The development finance lender lent against a range of both commercial and residential schemes, primarily in London and the South East, which is home to one of its largest ever development deals and record loan to a private rented sector (PRS) scheme.
Investec Structured Property Finance also announced that it had increased its investment financing as it diversified its risk exposure, broadened its loan book and provided clients with access to financing.
During H1 2018, Investec raised £195m for Cain International for the redevelopment of the Stage in Shoreditch.
Investec committed £97.5m from its own balance sheet and a further £97.5m from Harel Insurance Group.
The development finance lender also arranged a £72m facility – made up of £43m from Investec and £29m of debt from Israeli bank HaPaolim – to fund a 140,000 sq ft PRS and co-working scheme in King’s Cross.
- Investec arranges £72m loan for major King's Cross development
- Investec provides £45m facility for PRS scheme
- CapitalRise closes its largest investment opportunity
“The significant experience and market knowledge across the team has allowed us to remain an active provider of both investment and development finance during the first half of the year, achieving record volumes and lending against a number of flagship schemes,” said Simon Brooks, loans origination at Investec Structured Property Finance (pictured above).
“Reflecting our growing capabilities, the period has seen us support our clients with a number of large facilities, while further leveraging our institutional relationships to bring additional third-party debt.
“The majority of our committed funding during the period has been to longstanding clients, who are able to benefit from our increasingly broad offering and the team’s deep-rooted knowledge of the property market.”
Gary Dobson, head of Investec Structured Property Finance, added: “Real estate continues to be an important asset class and, despite wider market uncertainty, the strength of the Investec offering has allowed us [to] maintain our position as funder of choice to a diverse mix of borrowers, ranging from high-net-worth property entrepreneurs through to global institutions.
“Coming up to 10 years on from the global financial crisis, while the lending landscape has changed immeasurably with a wave of new entrants, we continue to benefit from the strength of the relationships that we have built up during nearly 20 years of real estate financing.”