Octopus Property, the specialist UK property lender, has raised 拢115m (鈧�130m) in a first close for its latest fund.
The Commercial Real Estate Debt Fund II follows Octopus鈥� debut fund, which launched three years ago with 拢130m of capital, topped up with an additional 拢35m round of fundraising.
The latest fund is targeting 拢200m in total, enabling to provide funding to complete loans with a combiend value of more than 拢500m over the next three years.
Since 2009, Octopus has lent more than 拢2.6bn across close to 2,600 loans.
Ludo Mackenzie, head of commercial property at Octopus Property and manager of the funds, said: 鈥淭here remains a real need for commercial property finance in the UK market, and we have built a reputation and track record of delivering bespoke solutions, quickly and efficiently.
鈥淔rom a borrower鈥檚 perspective, we provide loans that are more versatile than traditional bank finance and cheaper than private equity.鈥�
