Karis Capital, a real estate debt and insurance advisory, has celebrated its one-year anniversary, having originated over £600m worth of loans for a mixture of clients across the real estate sector in that time.
Celebrating at an event in London, co-founder and CEO Nicholas Christofi revealed the firm’s achievements and expansion plans.
Operating across the full finance requirement spectrum, Karis’ largest loan amount totalled £25.25m, which primed a £500m, 183-unit, Purpose Built Student Accommodation (PBSA) scheme in central Leeds.
The lowest amount brokered totalled £50,000 for a second charge bridge.
Karis Capital’s insurance arm has also recorded strong results in its first six months of operation, with over £250m in building reinstatement value secured to date.
Specialising in Latent Defects cover (10-year new-build guarantee) and professional indemnity insurance, the insurance department has worked in tandem with the larger debt advisory arm of Karis Capital, securing transactions for multiple long-term clients, while also building up its own client base and pipeline.
Internally, Karis Capital’s workforce increased by 60% in the past 12 months, to meet the needs of the business.
The firm has secured a new 3,000 sq. ft. HQ premises close to its current office in the City of London.
Christofi said: “When we set up the business it was perhaps one of the most challenging times economically, so we were aware of the difficulties that we faced but we knew that with what we had to offer the marketplace, combined with hard work, we would be a success.
“Our goal is and always will be to redefine the way developers and investors approach financing.
“From the outset we have wanted to build enduring partnerships with our clients and we are just incredibly grateful to all of those that trusted our vision and supported us in the past 12 months.
“Our objective moving into year two is to double our revenue, continue to expand our team and constantly work to source the best finance for our clients to have the freedom to do what they do best.”
Christofi added: “We don’t discriminate on size or cherry pick deals, we are relationship led and will assist clients with all funding challenges no matter complexity or size.
“We also specialise in a range of development classes, with substantial completions in the PBSA and care spaces as well as many large portfolio refinances and countless bridging loans and funding of refurbishment works in the house in multiple occupation (HMO) space.
“We are an ally of the small and medium (SME) developer and continue to work hard in this space to secure optimal bespoke finance packages to ensure deals stack up and are workable for the developer in what has been a very tricky market.”
