The lender is targeting more opportunities to fund developers and JV partners through its stretch senior, mezzanine and bridging loans.
The group – which undertook some £300m of lending during 2017 – has now deployed over £1.1bn of its cash reserves to some of the leading developers and investors across the UK.
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Recent deals include:
• a £40m loan to fund the acquisition of four sites across the south coast with permission for 1,000 retirement modular bungalows
• a £15m loan for a new commercial development in Gosport pre-let to a number of strong retail tenants
• a refinance of a major hotel on the Thames
• a £10m development finance loan for a single residential unit in Wimbledon to a high-profile retailer.
“While the mainstream lenders continue to exercise caution in the development finance arena, the alternative lending market is increasingly competitive and diverse,” said Ed Matthews of Topland Group.
“At Topland, our point of difference will always be the depth of our in-house expertise alongside the ability to make decisions and execute deals quickly, although we also recognise the need to offer more flexible and competitive terms.”
Topland has allocated a £250m war chest to be specifically deployed on more competitive loan products starting at 5% and has expanded its maximum LTV to 85%.
“Topland’s structured finance division is now a well-established alternative lender with an ability to complete loans in record time,” said Sol Zakay, executive chairman and CEO at Topland (pictured above).
“We remain committed to future lending activity via a range [of] senior, mezzanine and preferred equity finance.
“With significant cash ready to deploy, we are constantly reviewing our product offering to ensure that we are always well-placed to react quickly to the best opportunities presented to us.”