Leumi UK has coordinated a £42.9m loan-on-loan facility to Martley Capital Group to refinance its existing loan book, secured against 20 assets across different real estate sectors.
Martley Capital, a real estate investment management platform, acted as sponsor for the loan portfolio, which was originated by its UK debt vehicle, Tunstall Real Estate Credit II Lendco S.à r.l.
The portfolio is made up of performing loans, with assets reportedly progressing according to business plans and capex initiatives moving ahead alongside letting activity.
Leumi UK originated and coordinated the facility, working with Cynergy Bank as a co-lender.
The deal refinanced the borrower’s previous loan-on-loan facility and marked Leumi UK’s first time providing a portfolio style loan-on-loan financing.
Dan Boakes, managing director of debt capital markets at Martley Capital Group, said: “In our second transaction with Leumi UK, their support has once again been invaluable, demonstrating deep expertise in both complex financial structures and the commercial real estate market.
“This combination was crucial in understanding the unique requirements of this deal.
“With our refinancing secured, this high performing loan portfolio is now well-positioned and provides longer-term stability for our debt fund.”
Oliver Stenning, relationship director at Leumi UK, said: “This strategic refinancing demonstrates Leumi UK’s expertise in underwriting back leverage and loan-on-loan transactions – an area of growing importance for debt funds in today’s market.
“Our commitment to going the extra mile for our clients is at the heart of our approach and in this case, our persistence and close collaboration with Martley, along with the co-lending support from Cynergy, enabled us to deliver a tailored solution that met their needs and reinforced our strong partnership.”
