Laxfield upsizes UK debt fund to £750m
We are pleased to announce the upsizing of our real estate debt fund, Laxfield LLP, to £750m having fully deployed its original allocation in loans secured on office, student accommodation, logistics, hotel, serviced apartment and specialist retail assets.
The fund was originally sized at £500m when it was launched in January 2018 and seeded with £250m of existing loans previously written by Laxfield. It provides whole loans at up to 75% LTV against income producing and transitionary assets across almost all sectors in the UK for durations of 1-7 years. Transactions completed this year have ranged in size from £7m to £80m, and the fund has capacity to write up to £100m per loan.
Alexandra Lanni, Director of Laxfield, said “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.
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.”
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