Octopus Real Estate lends a record £127 million in October 2019
Octopus Real Estate, part of Octopus Group and a leading UK specialist real estate investor, has completed £127 million of property lending in October. This is a record month of lending substantially beating the previous record of £101 million in May this year.
The commercial team, led by Ludo Mackenzie, almost doubled its lending record. The team completed commercial deals in London, South East, Midlands and the North, with capital being used for a mixture of refinancing, acquisitions and equity release. Projects included land with planning, a hotel, an office and serviced apartments.
The record month reflects the service that the team at Octopus Real Estate provides. As a non-bank lender, the business can act fast and be flexible – meaning it can put together a range of products with terms to suit a borrower’s specific project needs.
Nearly half of deals in October were made outside of London, including the East of England, West Midlands and South West, amongst others. This month also saw Octopus Real Estate open its Manchester office. From initial enquiry, through to credit and underwriting, the Manchester office can process deals end-to-end. A senior team, including a credit manager, have moved from the London office, ensuring a continuation of the quality customer service that Octopus Real Estate has become known for. Complementing the existing team are a team of new people with experience in the Northern market and region.
Dan Murray, pictured, Head of Sales at Octopus Real Estate, said:
“Being a flexible and nimble non-bank lender enables us to react to the market environment and listen to the needs of our borrowers. Having spent the last decade building a business known for putting its customer first, we want to thank our loyal network of brokers and lenders for continuing to support us and helping us improve our service at every stage of the property lifecycle.”
Benjamin Davis, CEO of Octopus Real Estate, commented:
“This is another significant milestone for the Octopus Real Estate team post-merger. Our continued growth and success reflect the service that we offer to our broker and borrower network throughout the UK and the strength of our reputation and relationships with this base. We will continue to evolve with the UK real estate sector, to ensure we can support our borrowers to fulfil their borrowing needs and realise the visions for their property projects.”