FINANCE: Private investor Topland Group is seeking to push its loan book beyond £500m this year.
The lending platform, established in February 2011, grew to £400m in 2014, with close to £100m of loans being written during the year.
Head of structured finance Tom Betts said the company had a target to lend as much as £150m in 2015, with financing provided predominately through bridging loans and preferred equity joint ventures.
Its bridging loans typically start at £3m and can be secured at loan-to-value ratios of up to 65%.
Topland’s preferred equity scheme, which was launched last year, is available to partners with 60% of their capital in place. It provides between 75% and 80% of the balance.
Chairman Sol Zakay said: “A major development over 2014 for the structured finance team has been the creation of a joint venture equity product.
“Investment has already been made into deals with a total gross development value of £200m. Sector parameters are wide ranging, including planning plays and out-of-town new-build schemes.
“I see significant deployment into this area of the business in 2015.”
He added: “Our lending business has seen stellar performance since its inception back in February 2011. We now provide a range of lending products, including our short-term bridging loan product to assist acquisition or the sales tail of a finished scheme.”
Assets currently being funded by Topland include high-end residential, London suburb developments, student accommodation, hotels, assisted living and office-to-residential conversions.
