Thursday, July 7, 2022

Investec Real Estate lent record $1.46bn


The $1.46bn comprised $638.77m of investment finance and $575.38m of development finance, with a slight weighting towards commercial real estate

Investec Real Estate provided £1.2bn ($1.46bn) of senior finance, across 85 loans, in the 12 months to 31 March 2022.

The lender said the record performance demonstrated ongoing demand from UK real estate borrowers for flexible financing solutions despite unprecedented macro-economic challenges.

The £1.2bn ($1.46bn) comprised £524m ($638.77m) of investment finance and £472m ($575.38m) of development finance, with a slight weighting towards commercial real estate.

During the period, Investec reported lending against numerous real estate schemes, in an increasingly diverse mix of use classes, including residential for sale, Build to Rent, purpose built student accommodation (PBSA), office, mixed use and retirement living.

The average loan size during the period was £14m ($17.07m), up from £8m ($9.75m) last year.

Highlights from the year include offering Investec’s first modular housing loan and arranging record £170m ($207.23m) Build To Rent facility.

There was also over £500m ($609.51m) of financing in the private client team, across 60 loans; more than double than in 2020/21.

Most of the new lending was in London and the South East, targeted at residential development finance. This included a £40m ($48.76m) repositioning loan on a central London mansion block, £25m ($30.48m) for a UK-wide GP surgery portfolio, a £35m ($42.67m) residential development loan in St. Albans and a £35m ($42.67m) student housing development loan in Bermondsey.

Mark Bladon, head of Investec Real Estate, said: Originating £1.2bn ($1.46bn) of committed finance across our three client segments of corporates, private clients and offshore is a phenomenal achievement.

Considering the backdrop, first with Covid and now the uncertain geo-political situation, as well as the increasing number of market entrants, makes it even more impressive, he said.

He said: With a deep understanding of operational real estate built up over nearly 30 years, the support of the wider bank, and a global client base, we continue to grow our market share, without compromising on loan terms.


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