LONDON—With an initial capital infusion from the real estate arm of the Government of Singapore Investment Corp., Laxfield Capital has launched a new commercial lending program. The locally based commercial mortgage origination, investment management and advisory firm will invest up to $1 billion in commercial mortgages in the United Kingdom over the next 24 months.

According to Adam Slater, managing director of Laxfield Capital, the program will fill the gap in the large-size commercial mortgage sector left by lenders currently unable to provide whole loans of more than £100 million, at up to 75% LTV, particularly outside core locations or prime assets.

The program, relates Slater, “will have a considerable impact on the UK property market with a significant injection of liquidity at a time when traditional sources of funding are contracting. This is a good example of how alternative sources of capital are successfully entering the space traditionally dominated by banks.”