After reaching the milestone of £250m in 2022, specialist lender Cohort Capital increased originations by 60 per cent in 2023 to reach £400m of new bridge lending.
This was achieved with loans made across Cohort’s bridge products of Unregulated Residential, Commercial, Semi-Commercial and Development Exit.
With a background in property investment and development, and funded by private capital, Cohort claims it can deliver finance quickly, with an average completion time of 14 days. The lender says that not being reliant on traditional banking lines means it can provide funding certainty when other funders are retreating from the market.
Founder Matt Thame says: “Whilst there were economically challenging times throughout the year, 2023 proved to be a record year for Cohort Capital – we supported property companies and professionals across the UK with £400m in funding, a 60% increase on 2022.
“Achieving this level of growth in a softening market indicates a growing market share for Cohort and the increasing relevance of our funding capabilities.
“Throughout 2023 we invested in key areas of the business such as rolling out our intermediary offering, building the team and pursuing high-quality credit opportunities. In 2024 we remain selective on our origination plans and will continue with the expansion of our reliable funding products whilst remaining commercial and creative with our decisions.”
Deals include a £5.5m loan to support the acquisition of a residential property in Holland Park, an £11m refinance of a London Science Park and a £3.7m refinance of a care home in SW London.
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