Its latest fund, Paloma Real Estate III — which can invest across all sectors and regions —  will focus primarily on income-producing, multi-let urban industrial and logistics schemes, as well as trade counter, open and self-storage, EV charging assets, and a small allocation to value-led retail warehouse investments.

Target assets will typically have the potential to add value from capital investment and active management, concentrating on lot sizes between £5m and £15m.   

Jack Pitman, founding partner of Paloma Capital, commented: “The OakNorth facility means we can draw down up to £45m on only 48 hours’ notice, which is great if opportunities come up to buy assets quickly.

“It also allows us to bridge the gap between completion and the drawdown of senior debt at a later stage.

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“Having worked closely with Mohith [Sondhi, senior director of debt finance at OakNorth] and the team, we are delighted with the effort they have made to understand our requirements and their willingness to design a package that was tailored to our specific needs.

“They have been very responsive throughout and managed to document the transaction within a week of receiving credit approval, which was exceptionally quick and exactly what we needed.”

Mohith added: “Both Jack and Joe [Froud, founding partner of Paloma Capital] are industry stalwarts with more than 30 years of experience investing in UK real estate.

“We look forward to supporting Paloma Capital on future transactions as we look to further highlight our expertise operating within the UK’s fund finance market.”

Since 2015, Paloma Capital has raised a total of circa £440m of wholly discretionary capital in three value-add funds, mainly from institutional investors across the UK, Europe, and the Middle East.