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L&G's property lending arm hails best year since launch

 L&G's property lending arm hails best year since launch

Legal & General's property lending arm has enjoyed its busiest year to date, lending over £550m across six deals. Since LGIM Commercial Lending launched in 2012, it has lent more than £1.5bn and built a reputation as an adaptable lender, prepared to consider complex situations and back investors in alternative asset classes, from social housing to student accommodation and hotels. Ashley Goldblatt, head of commercial lending at L&G, says the business is now looking to expand and broaden its offer by partnering with third-party capital. L&G's headline-making deals this year included a £75m loan against five airport hotels at an unusually high LTV ratio of 78% and the acquisition of a £150m social housing loan from Santander that saw L&G provide the borrower, The Hyde Group, with more flexible terms involving no financial covenants.

 

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