GB Bank has announced that it has provided a £20.5m structured funding facility to support a funding partner's acquisition of a 214-unit residential portfolio in the North West.
Working closely with the funding partner, GB Bank put together a bespoke structure designed to support the transaction while meeting the commercial objectives of all parties involved.
The facility was structured at 75% LTV, with an exit strategy built around dividing the portfolio across four SPVs That approach was designed to allow a flexible refinance further down the line, while supporting the ongoing management of the portfolio in the meantime.
Assessing the portfolio's rental income formed a key part of the transaction. All 214 properties were fully occupied at completion, generating immediate income from day one. GB Bank also looked at the borrower's wider financial position as part of its underwriting process, including personal liquidity and surplus rental income.
The deal reflects GB Bank's approach to working alongside partners on larger, more complex property transactions, structuring funding solutions tailored to each case. In this instance, that meant supporting the underlying bridging facility while ensuring valuation, credit and completion requirements were all met.
"As specialist lending continues to evolve, lenders increasingly require funding partners that can provide flexible capital solutions for larger and more complex transactions," said Hardik Gogia, relationship manager at GB Bank (pictured).
"This transaction demonstrates our ability to work alongside specialist lenders, providing tailored funding solutions that enable them to deliver complex bridging transactions with confidence. By combining commercial thinking with responsive decision-making, we're able to support lending partners on opportunities that require a more bespoke approach.
"Our structured funding capability is designed to complement the expertise of specialist lenders, giving them confidence that they have a responsive funding partner capable of supporting complex transactions without compromising on speed or service."
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