Waypark Capital, a new commercial real estate lending platform, has announced its launch with £450 million of institutional funding to originate small and middle-market commercial real estate loans in the UK.
The London-based lender will provide commercial real estate borrowers with tailored loans and financial solutions of between £2 million and £20 million, with LTV ratios of up to 75% for acquisitions, refinancing, and asset upgrades.
Nicolas Vocos, CEO of Waypark Capital, said: “Banks’ dominance of the UK real estate credit market has decreased considerably over the last decade. We expect this trend to continue as the pandemic disruption contributes to tighter regulation and lowers risk tolerance from traditional providers of real estate finance.
“Our lending platform is uniquely positioned to capitalise on this opportunity, particularly as the real estate industry looks to a net-zero carbon future that would require significant funding to upgrade the UK’s commercial property stockpile to meet current and future requirements,” he added.
The new business is focused on relationship lending and a simple approval process built around the customer, with an emphasis on speed and certainty of execution. The lender’s current pipeline already exceeds £150m of loans, and it is on track to close a number of transactions next month.