InterBay has announced that it has completed a £17.5m commercial mortgage refinance for an experienced property investor, unlocking capital to fund future acquisitions and support the continued growth of a substantial mixed-use portfolio.
James Baughan of Independent Lending introduced the transaction, which involved a portfolio of 33 properties comprising 25 commercial and 8 semi-commercial assets. The portfolio includes 62 commercial tenancies spanning retail, office and light industrial units.
Achieving the level of funding needed to support the borrower's growth plans was a key challenge. The client's objective was to maximise leverage against the portfolio and release capital for future acquisitions.
InterBay agreed lending at 75% loan-to-value based on the market value of the portfolio, giving the client access to the funding required to continue expanding their property holdings.
Alongside the refinance, InterBay also put in place a £25m credit limit, adding flexibility and supporting the client's long-term acquisition strategy.
Close collaboration between InterBay, the broker and the client was central to the transaction's success. Baughan worked closely with InterBay throughout the process to keep the deal on track and complete it within the required timescales. Teams across the business, particularly underwriting and completions, supported the transaction, with all parties working together to deliver the client's desired outcome.
"This was a sizeable and complex transaction involving a diverse portfolio of commercial and semi-commercial assets," said Marc Callaghan, head of commercial mortgages at InterBay (pictured).
"The client's objective was clear from the outset: to maximise leverage against the portfolio and release capital for further investment. By working closely with the broker and borrower, we were able to structure a solution that met those requirements and provide a strong platform for the next stage of the portfolio's development."
"The client wanted to release as much capital as possible from the portfolio to support future acquisitions, and InterBay understood that objective from the outset," said James Baughan, director at Independent Lending.
"The team worked closely with us throughout the process, taking the time to understand the client's plans and deliver a solution that gave them the flexibility to act on new opportunities as they arise."
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