CapitalRise closed originated loans of £49.4m in July, a record for the firm, taking it to £400m in cumulative originations for the year so far.

The geographical diversification of its loan book has increased the range of projects it has financed, as it looks to expand beyond central London and into the wider South East.

Nearly 45% of July’s loans were for projects in prime central London locations, including Mayfair, Bloomsbury and Chelsea, while a third of the loans were in prime outer London areas, such as Wimbledon, where the firm closed an £8.2m senior development loan.

Almost a quarter of the loans closed in July were in Home Counties locations, with the region representing the fastest-growing part of its loan book.

Co-founder and chief executive officer at CapitalRise, Uma Rajah, said: "Throughout the volatility of the past 12 months, our team has shown great flexibility, resilience, and creativity as they structured bespoke lending solutions to continue to serve our clients – and their efforts are reflected in these results.

"Alternative lenders are playing an instrumental role in the development finance sector."

The string of newly completed loans contributed towards CapitalRise’s live loan book growth, which has increased by 32% annually.

This was achieved despite a macroeconomic environment over the last 12 months that CapitalRise said has "presented challenges for many property developers, including build cost inflation and increased financing costs due to rising interest rates".

The firm added that it is "prepared for the anticipated increase in demand" with a number of new funding lines, which have growth its institutional funding capacity by 290% in the year to July 2024.

Head of origination at CapitalRise, Lee Francis, added: "I am very proud of what we have achieved – across all our internal departments, as well as with our trusted professional partners. With impressive amounts of capital to deploy, and high and increasing demand from the market for development finance, we are keen to lend to quality borrowers and will continue to support their needs."

---