Topland Group’s structured finance division has issued £75million of new loans and joint venture funding focussed on non-residential assets during the first quarter of 2017. This, alongside a current pipeline of £75m of residential lending, puts it on course to hitting its target of £400 million of capital deployment during 2017.
With an expanding range of alternative products and solutions – including bridging loans, joint ventures with developers and finance for planning opportunities– the group’s total loan book now exceeds £500m allocated to UK-wide schemes with a combined GDV of £900m.
The group has seen growing demand for bridging loans during the course of 2017 and an increased emphasis on lending activity on commercial assets, land and mixed-use projects. Recent deals include a £14m stretch senior bridging loan on an industrial park in Wembley, a £24m mixed-use development in Knightsbridge, a £25m commercial site assembly opportunity on Stratford High Street, a bridging loan on brownfield land in Middlesbrough and two bridging loans against operational student housing schemes in Bradford and Hull.
In addition to growing its order book for bridging loans, the group continues to target joint venture opportunities with commercial and residential developers, strategic land opportunities and is also exploring a number of opportunities in the burgeoning proptech sector.
Sol Zakay, Executive Chairman and CEO of Topland, said: “Following a successful 2016, our structured finance division has hit the ground running in 2017 and is beginning to cement its status as a challenger bank. Our ability to understand entrepreneurial business models, add value through development/management expertise and to deploy capital quickly, makes us a credible alternative in an era of conservative lending.”
As part of the structured finance division’s continued growth, the team has recently been bolstered by the arrival of Sumeer Bose, a specialist in commercial lending. He joins from Laxfield Capital and will be focussed on short term lending opportunities for commercial assets.
Tom Betts, director of Structured Finance at Topland, added: “Sumeer’s analytical skills and experience in commercial lending will be a huge asset to the team as we continue to drive growth. Having had a strong start to the year, we expect to see continued demand for our diverse suite of products as the best investors and developers begin to look at increasingly innovative ways to find and deliver value.”