Topland, one of the UK’s largest privately-owned real estate groups, has grown its structured finance loan book having delivered £50 million in new funding in September.
The alternative lender has deployed five new loans against alternative asset classes, including three in the hospitality sector. Other sectors included education and residential property.
The new lending includes a £12 million facility designed to support a prominent educational asset in East Sussex. The facility will repay the incumbent lender, fund professional fees and fund capex to fit-out a new school in accordance with the lease provisions. The school will be operated on a long-term lease to one of the largest educators globally, providing state-of-the-art teaching rooms, science labs, sports and fitness centres and boarding facilities for up to 450 students.
Topland has also provided a £16.5 million senior facility secured against the LaLiT Hotel in Tower Bridge. The asset comprises a Grade II-listed building which has been converted into a 70-bed five-star hotel in the heart of London. The 18-month rolled facility will enable the owner occupier to continue to serve robust levels of occupancy since the Covid-19 pandemic.
Topland provided a further £25 million of funding against a resort hotel in Dublin, Accor Hotel in Oxford and a Grade II-listed cotton mill in Manchester.
Sol Zakay, chairman and CEO of Topland Group, said; “The recent economic volatility has increased borrowers requirements for fast, flexible funding solutions with certainty on deal execution. As such, we remain committed to helping top tier borrowers looking to secure funding to take advantage of growth opportunities or shield themselves from economic headwinds.
“We’re pleased to have been able to assist a range of new projects with opportunistic capital as we look to accelerate the growth of our loan book in Q4.”