InterBay completes £17.5m refinance for mixed-use portfolio expansion
InterBay agreed lending at 75% LTV based on the portfolio’s market value, allowing the client to access the funding needed to continue expanding.
InterBay has completed a £17.5m refinance for an experienced property investor, supporting the growth of a mixed-use portfolio.
The deal involved a portfolio of 33 properties, made up of 25 commercial and eight semi-commercial assets.
The portfolio includes 62 commercial tenancies across retail, office and light industrial units.
A key challenge in the transaction was securing the level of funding needed to support the borrower’s future plans.
The client wanted to maximise leverage against the portfolio and release capital for new acquisitions.
InterBay agreed lending at 75% loan-to-value (LTV) based on the portfolio’s market value, allowing the client to access the funding needed to continue expanding.
Alongside the refinance, InterBay set up a £25m credit limit to give the borrower extra flexibility for future acquisitions.
The transaction was introduced to Simon Ward at SFAM by James Baughan of Independent Lending.
Close collaboration between InterBay, the broker and the client was key to getting the deal over the line.
Baughan worked alongside InterBay throughout to make sure the deal completed within the required timescales.
The transaction involved teams across underwriting and completions, with all parties working together to deliver the outcome for the client.
Marc Callaghan (pictured), head of commercial mortgages at InterBay, said: “This was a sizeable and complex transaction involving a diverse portfolio of commercial and semi-commercial assets.
“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.”
Baughan said: “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.
“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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