Shawbrook completes £60.5m refinancing for Grace Real Estate Partners
The 5-year, interest-only senior facility was secured against residential properties in Newcastle and the wider North East.
Shawbrook has completed a £60.5m refinancing for Grace Real Estate Partners’ 832-home Northern Portfolio.
The 5-year, interest-only senior facility was secured against residential properties in Newcastle and the wider North East.
The finance will support investment in the quality and energy efficiency of the properties, as well as Grace’s plans to increase rental income and improve operations.
Tirath Singh, head of structured real estate at Shawbrook, said: “We are delighted to support Grace with this significant refinancing.
“The portfolio’s strong performance reflects targeted investment and active management.
“By understanding the assets and wider business plan, we provided a flexible, long-term facility to support the next phase.”
Georges Tohme, founding director at Grace Real Estate Partners, said: “Shawbrook and their professional and dedicated team engaged with both the portfolio and our wider business plan from the outset, and that understanding was central to delivering a transaction of this scale with certainty.
“Since our initial investment in Newcastle in 2023, we have built significant operational scale, strengthened income performance and continued to invest in the quality and energy efficiency of the assets.
“The new facility provides an appropriate long-term capital structure for the next phase of our business plan. We are thrilled with the outcome of this refinancing.”
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