The real estate debt investment management firm deployed the original allocation in loans secured on office, student accommodation, logistics, hotel, serviced apartment and specialist real estate assets.
The original fund was sized at £500m when it was launched in January 2018 and seeded with £250m of existing loans previously written by Laxfield.
The fund provided whole loans at up to 75% LTV against income producing and transitionary assets across almost all sectors in the UK for terms between one to seven years.
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“Appetite for our product has been strong and we are delighted to be working with some excellent borrowers who appreciate our pragmatic approach and swift execution capabilities,” said Alexandra Lanni, director at Laxfield (pictured above).
“Along with the additional £250m of new capital, we have the ability to recycle funds when loans are repaid, so we have excellent capacity for new business going into Q4 and the start of 2019.
“We review more than £10bn of loan requests annually for Laxfield LLP and are delighted to have delivered this upsizing quickly in response to demand.”