The investment loan will allow the privately owned investment group to reposition and enhance existing income at the multi-let office buildings.
This is the second transaction between the companies, with a £20m investment facility being provided by Investec earlier this year.
The 18-storey, 137,070 sq ft property in Bristol (pictured above) is let to 17 tenants, including companies in the serviced offices, insurance and telecommunications sectors.
The building in Cardiff is 86,985 sq ft and is around 80% occupied.
- Investec appoints new broker manager
- Investec launches new specialist division
- Pivot provides £843,000 'hope value' loan to support office conversion
Jonathan Long at Investec Structured Property Finance said: “Floreat is an established and dynamic real estate business with whom we are pleased to be working with again so soon after our funding arrangement in Hayes.
“We continue to seek opportunities to broaden our loan book exposure and provide clients with access to financing across the real estate lifecycle.
“This type of facility, with a repeat client, fits well with this strategy.”
Gavin Booth, investment director at Floreat, added: “We’re pleased to have worked with Investec once again to secure financing.
“The loan gives us the flexibility to deliver to our business plans and helps enhance the income profile of the assets for our clients.”
Leave a comment