Lending
Lending is Laxfield’s core business. We provide finance solutions for commercial real estate investors for a wide range of property types and sectors. We execute efficiently and structure flexibly to match asset strategy. Our current lending products include:
LAXFIELD LLP
Debt fund which provides whole loans of £7m-£100m at up to 75% LTV across the UK
Laxfield is the manager of
Laxfield LLP which provides
stretch senior, whole loan and capex facilities.
LAXFIELD NATIONAL
Senior loans of £4m-20m
Laxfield National offers
senior loans of 1-7 years at up to 65% LTV in all mainstream commercial and residential sectors for assets in England, Scotland
and Wales.
SPECIAL SITUATIONS
Non-standard lending including high leverage, development, bridging and respositioning funding from £5m
Funding for more complex strategies at up to 85% LTV, loan term 6 months – 3 years.
PROGRAMME PARAMETERS
- Programme – Laxfield LLP
- Strategy – Whole Loans
- Loan Size – £7m-£100m
- Maximum LTV – Up to 75% LTV uni-tranche
- Interest Margin – Typically 350-450 bps
- Sectors – All commercial and residential sectors including operational properties such as hotels and student accommodation. No appetite for healthcare, pub portfolios and casinos / gaming
- Geographies – England, Scotland, Wales
- Investment Loans – Yes including properties with short income
- Development Loans – Capex / refurbishment of existing buildings, including speculative capex of commercial properties, up to 75% LTC. No ground-up commercial or residential development.
- Site Loans – Where existing use underpins value
- Term – 2-7 years
- Fixed / Floating Rate – Fixed coupon and floating rate (3 month LIBOR) options available
- Security and Documentation – Standard SPV security package, LMA documentation
- Personal Guarantees – Not required
- Timing – Usually 4-6 weeks from inception to drawdown
- Contact – Chris McMain, Bryan Hawkins, Philip Skelton
CASE STUDIES
Mixed Use Portfolio
Location: Scotland
Loan: £80m
LTV: 75%
Term: 5 years
Refinance of a high quality portfolio of leased and operational assets including some assets at early stages of stabilisation
Office
Location: Leeds
Loan: £15m
LTV: 65%
Term: 5 years
Acquisition finance on a part vacant office building to support a capex and reletting strategy
Student Accommodation
Location: Glasgow
Loan: £40m
LTV: 71%
Term: 3 years
Take out of development finance during trading stabilisation phase
Hotel
Location: London
Loan: £20m
LTV: 60%
Term: 5 years
Take out of development finance at the point of practical completion on an owner-managed hotel
Office
Location: London
Loan: £35m
LTV: 64%
Term: 4.5 years
Acquisition finance for a single let office building, loan expiry coterminous with remaining lease term
Serviced Apartments
Location: London
Loan: £40m
LTV: 70%
Term: 5 years
Higher LTV refinance of a stable portfolio of managed serviced apartments
LAXFIELD LLP
Debt fund which provides whole loans of £7m-£100m at up to 75% LTV across the UK
Laxfield is the manager of
Laxfield LLP which provides
stretch senior, whole loan and capex facilities.
PROGRAMME PARAMETERS
- Programme – Laxfield National
- Strategy – Senior Loans
- Loan Size – £4m-£20m
- Maximum LTV – Up to 65% LTV
- Interest Margin – Typically 275-350 bps
- Sectors – All commercial and residential sectors including operational properties such as hotels and student accommodation. No appetite for healthcare / casinos / gaming
- Geographies – UK and Republic of Ireland
- Investment Loans – Yes including properties with short income
- Development Loans – No
- Site Loans – No
- Term – 1-7 years
- Fixed / Floating Rate – Floating rate (3m LIBOR) options available
- Security and Documentation – Standard SPV security package, short-form documentation
- Personal Guarantees – Not always required
- Timing – Usually 4-6 weeks from inception to drawdown
- Contact – Bryan Hawkins, Chris McMain, Rikki Lewis
CASE STUDIES
Hotel
Location: Manchester & Bristol
Loan: £9.1m
LTV: 60% LTV
Term: 5 years
Senior investment facility secured on leased hotels owned by a fund
Office
Location: Chiswick
Loan: £7m
LTV: 60%
Term: 5 years
Senior loan secured on good quality office let to serviced office tenant
Prime London Retail
Location: Central London
Loan: £5.7m
LTV: 60%
Term: 5 years
Senior loan secured on high quality retail with residential / office above
Boutique Hotel
Location: Central London
Loan: £5m
LTV: 47%
Term: 5 years
Senior loan secured on high quality boutique hotel, facility supported borrower through refurbishment and stabilisation phases
Office
Location: South East
Loan: £4m
LTV: 55%
Term: 5 years
Senior loan secured on multi-let asset with good occupancy history
Residential
Location: Strong London locations
Loan: £4.2m
LTV: 60%
Term: 5 years
Well-let portfolio of residential assets in desirable London locations with good transport links
LAXFIELD NATIONAL
Senior loans of £4m-20m
Laxfield National offers
senior loans of 1-7 years at up to 65% LTV in all mainstream commercial and residential sectors for assets in England, Scotland
and Wales.
PROGRAMME PARAMETERS
- Programme – Special Situations
- Strategy – Complex loans
- Loan Size – £5m+
- Maximum LTV – No maximum threshold
- Interest Margin – Typically 700-900bps
- Sectors – All commercial and residential sectors including operational properties such as hotels and student accommodation
- Geographies – UK and ROI
- Investment Loans – Yes including properties with short income
- Development Loans – Yes including ground up
- Site Loans – Yes
- Term – 6-36 months
- Fixed / Floating Rate – Floating rate (3 month LIBOR) options
- Security and Documentation – Standard SPV security package, LMA documentation
- Personal Guarantees – Not always required
- Timing – Usually 4-6 weeks from inception to drawdown
- Contact – Philip Skelton, Alexandra Lanni
SPECIAL SITUATIONS
Non-standard lending including high leverage, development, bridging and respositioning funding from £5m
Funding for more complex strategies at up to 85% LTV, loan term 6 months – 3 years.