Specialist lender completes deal in record timeframe
Topland’s structured finance division has completed a £7m acquisition bridge loan to Rocket Properties to fund the purchase of a strategic logistics site in Birmingham.
The deal, which was completed in just five working days from legal instruction, is Topland’s first of the year and follows an active period in which the alternative lender issued some £120m of new loans during the last quarter of 2021.
Tom Betts, of Topland, said: “As the mainstream lending market remains constrained, we are increasingly being approached by entrepreneurial operators who need to move quickly to secure the best opportunities. Our in-depth real estate expertise and in-house resources mean that we can often accelerate the underwriting process and conclude deals within market-leading timeframes.”
During the past year Topland has expanded its range of products, including acquisition bridge finance for £10m + loans at 75% LTV and with starting rates of 8% for most commercial real estate asset classes, in addition to pursuing co-lending, preferred equity and venture capital opportunities. Recent lending activity has included acquisition finance, development finance and refinancing across the mixed-use, office and retail sectors.
Over the past nine years Topland has provided c. £1.75bn of finance to the real estate sector across 132 loans.