August 19 2024 Leading prime property finance firm CapitalRise is celebrating a record-breaking July, after it originated loans valued at £49.4 million in the span of just one month. The facilities take the firm over a major milestone of £400 million in cumulative origination and paint an optimistic picture for the year ahead.
The range of projects that CapitalRise financed in July illustrates the increasing geographical diversification of its loan book, as the firm expands beyond Prime Central London – for which it is particularly known – and into the wider South East. While nearly 45% of July’s loans were for projects in Prime Central London locations – including Mayfair, Bloomsbury, and two in Chelsea – a third of the loans were in Prime Outer London areas such as Wimbledon, where the firm closed an £8.2 million Senior Development Loan.
Nearly a quarter of the loans closed in July were in sought-after Home Counties locations, such as Ascot, where the firm is financing a 14,600 sq.ft. luxury new-build house.
For CapitalRise, the Home Counties represent the fastest-growing part of its loan book. The string of newly completed loans contributed towards CapitalRise’s live loan book growth, with the firm reporting a 32% annual increase. This growth was achieved despite a testing macroeconomic environment over the last 12 months that has presented challenges for many property developers, including build cost inflation and increased financing costs due to rising int.