CrowdProperty, the UK’s specialist property development lending platform, has paid back in excess of £100,000,000 to investors.
The repayments have been made at an average realised IRR of 8.30%, whilst maintaining the 100% capital and interest payback track record of the business which has been lending since 2014.
All CrowdProperty loans are first-charge secured on the RICS-assessed value of the underlying property assets, meaning that not only are CrowdProperty loans first in line to be paid back, but also CrowdProperty is able to be in control of any recoveries action, which is often overlooked in importance.
CrowdProperty has now funded the development of £360,000,000 of property projects, the construction of 1,800 homes, agreed £215,000,000 of facilities and lent £170,000,000, all expertly curated from over £8bn of funding applications.
Mike Bristow (pictured), CEO of CrowdProperty, said: “We’ve now paid back £100,000,000 in capital and interest to lenders with an average rate of return of 8.30% p.a. and a perfect, 100% capital and interest payback track record.
“Investor liquidity across diverse sources of capital remains at high levels, as platform and institutional investors look for the yield, quality and security that CrowdProperty has proven to deliver through seven years of lending.
“Earlier this year, we closed a £300m funding line from a major global investment manager to complement our existing institutional backers, which is yet another game-changer in unlocking robust and reliable scalability.
“We’ve seen strong growth and continue to work hard to maintain a sustainable, profitable business with a big future ahead. We are looking to deepen our competitive advantage and bring a progressively more valuable proposition to both sides of the marketplace with a number of significant product launches planned for 2022, alongside aiming to increase staffing numbers by 50% and the amount we are capable of lending by 300%+.”
