"Deals like this demonstrate our appetite to support high-quality residential transactions"
- Pankaj Thukral - GB Bank
SHC Capital, a real estate finance specialist, has closed the first tranche of a multi-stage investment facility for an international asset manager's £40m residential portfolio in North West England.
The finance, provided by GB Bank, will allow the group, which manages £10bn of global assets, to recycle capital into its next UK transaction. The refinancing of the unencumbered portfolio is being completed in two stages, with the second tranche now underway.
"We are on track to complete more than £50m of debt finance this year with GB Bank," said Tony Tadros, director at SHC Capital. "It is always a pleasure to work with a team that consistently demonstrates an impressive ability to structure complex transactions and execute under pressure.
"This transaction presented a number of complexities, yet at every stage GB Bank delivered practical solutions, allowing us to successfully complete the first tranche despite the recent uptick in swap rates."
GB Bank's appetite for structured residential transactions was central to getting the deal across the line. The facility will support the investor's broader UK expansion strategy as it looks to deploy further capital across the country.
"We regard SHC Capital as a vital partner in our ambitious growth plans, and it is a pleasure to work alongside the team on exciting transactions such as this," said Pankaj Thukral, chief lending officer and deputy CEO at GB Bank (pictured). "Deals like this demonstrate our appetite to support high-quality residential transactions."
Hardik Gogia, relationship manager at GB Bank, highlighted the close collaboration between both parties throughout the process. "We worked closely with SHC Capital throughout the process, and their commitment to structuring the loan and ensuring completion was second to none," he said.
"At GB Bank, when we believe in both the asset and the borrower, we are able to move quickly and execute efficiently. This is a strong borrower with a solid portfolio, and we were pleased to deliver a successful outcome for all parties involved."
The deal reflects growing lender confidence in the North West residential market, as international capital continues to target UK regional cities for portfolio-scale acquisitions.
