CapitalRise secures funding line with Downing
CapitalRise has agreed a new funding line with investment manager Downing LLP.
The agreement was signed on 28 September by associate director of capital markets Pip Lashko-Sayers from CapitalRise’s side, and partner and head of specialist lending Parik Chandra and executive assistant Anna Napolitano from Downing, according to documents filed with Companies House.
CapitalRise specialises in prime property investments in London and the Home Counties. It has secured several institutional funding lines over the years to help scale up its lending.
In August, it announced an agreement with a “well-known UK investment manager” to pre-fund prime real estate loans.
“CapitalRise already has a number of pre-funding facilities like this which enable us to increase the speed at which we can transact with our borrowers however as the business continues to grow rapidly and we focus on larger loan sizes this provides us with additional capacity to fuel our growth,” the firm said in a blog post on its website at the time.
This followed a £72m funding line with another unnamed institution announced in its latest annual results, and a £30m deal with a “major financial institution” in 2019.
CapitalRise declined to comment on the latest deal. Downing did not respond to requests for comment.
As Peer2Peer Finance News reported in June, CapitalRise has expanded its remit to invest in properties outside prime central London postcodes.
Earlier this month, CapitalRise said it had originated more than £200m in loans since inception.
Meanwhile in June, Downing’s property finance team announced it had passed the £300m lending milestone.
“This is a great milestone and testament to the team’s continuing hard work managing a growing portfolio in a tricky macro environment, while also focusing on high quality origination in a very competitive market,” former Funding Circle executive Chandra said at the time.
“While we expect the market to face challenges over the next 12 to 18 months, we hope to continue this positive trajectory and remain committed to supporting SME developers.”