FDC Real Estate Development Debt Fund
An institutional development debt fund managed within Mercia, targeting around £500m and writing senior real estate development loans of £1m to £30m.
What they do
The fund raises from insurers, local government pension schemes, defined benefit schemes and family offices, and lends senior development debt secured on the scheme rather than on borrower earnings. Facilities run from around £1m to £30m, with a primary focus on industrial and logistics development alongside commercial schemes. It sits within the Mercia group but operates as a separate strategy from the group's SME debt funds.
Where they fit in a lower-mid-market raise
Industrial and logistics development is where institutional appetite is strongest and where a specialist fund can price better than a generalist bridging lender. The range covers a whole £3–15m scheme, and long-term institutional capital behind the fund means a facility can be committed for the full build programme rather than rolled.
Where they are not the fit
Developer inexperience is a hard stop, and non-UK schemes are outside the mandate. Residential-led development is not the primary focus. Loans below £1m or above £30m fall outside the band, and this is scheme lending rather than corporate finance.
Published terms
- Pricing
- Not published
- Speed to terms
- Not published
- Sponsored or sponsorless
- Owner-managed and corporate borrowers, with no private-equity sponsor proposition
As published by the lender and last reviewed August 2026. Terms quoted on a deal are set by the credit, not by a published band.
What rules a deal out
Stated limits, taken from FDC Real Estate Development Debt Fund’s own published criteria. A limit is where a lender starts from, not where it always ends: several of these move on a strong enough credit.
- Developer inexperience or no track record
- Non-UK geographies
- Loan size outside £1m–£30m band
- Residential development (primary focus is industrial/logistics)
How they sit against the category
- Its published ceiling is £30m; 22 of the 75 property-backed lenders here go at least as high.
Counted across the 75 property-backed lenders in this directory, on what each one publishes. What a lender discloses and what it will do are different things.
Questions this page answers
How large a facility does FDC Real Estate Development Debt Fund write?
Published facilities run £1m to £30m. A band is what a lender states it will do, not what it will do on a given credit.
What does FDC Real Estate Development Debt Fund lend?
The published product set is senior real-estate development debt. Published sector focus is commercial-property, development, industrial, logistics, property.
Sources
This profile is a curated reference note drawn from public sources, not financial advice or a recommendation. Appetite and terms change; a lender's fit for a given credit is established by approaching it, not inferred from a page.