Real estate lender Octopus Property has taken its loan book past the £1 bn (€1.17 bn) mark after diversifying into UK regional and alternative assets.
Recent deals include loans for commercial properties in Birmingham, Derby, Manchester and Edinburgh, as well as a record £36 mln development loan to fund a purpose-built student accommodation scheme in Coventry.
A £31 mln refinancing facility has been agreed for a major mixed-use development scheme in south-west London with a gross development value of £210 mln.
The lender, part of the Octopus Group, said it was looking to capitalise on the favourable demand and supply dynamics and demographic trends in its target sectors.
Octopus has also introduced a single unregulated bridging loan and changes to its refurbishment products in response to demand from borrowers for alternatives to traditional bank lending.
'Despite the broader macro uncertainty, this success has been based on a combination of the inability and unwillingness of bank lenders to evolve, the favourable underlying drivers supporting UK real estate investment and our ability to stay ahead with flexible and comprehensive products, as well as great customer service,' said CEO Mario Berti.
'With the backing of the Octopus Group, which has £8.5 bn of assets under management, coupled with our growing and extremely experienced team, we are well placed to continue to increase our lending to borrowers throughout the UK.'