Laxfield closes sixth deal of 2019
Laxfield Capital is pleased to announce its sixth loan closing of 2019 with the part-funding of Clearbell’s £59m acquisition of 65 Kingsway.
During the past four months, Laxfield has closed £157m of loans in the UK across a broad variety of sectors, including;
- Two acquisition facilities for Central London office buildings with repositioning strategies
- Inventory loan for a residential portfolio in the South East
- Financing a major mixed-use site in Birmingham with significant development opportunity
- Office building in Cardiff with a refurbishment and lease re-gear angle
- Upsizing of an existing facility secured on a boutique hotel
Alexandra Lanni, Director of Laxfield, who oversees the investments teams, commented
“We continue to work with good sponsors who have solid business plans for assets where there are opportunities to add value, despite the more challenging market conditions.
“Borrowers appreciate our reliability, fast delivery and flexible loan structuring. We take a pragmatic approach to execution and deliver the money when it’s needed. We still have strong appetite for UK real estate debt and support the continued growth of our loan book which is performing well.”
Loans have been written by Laxfield’s £750m debt fund known as Laxfield LLP and on behalf of a segregated account. Laxfield LLP provides loans of up to £100m at up to 75% LTV across the UK.