The loan, which was secured against 20 underlying assets across all sub-sectors, was originated and co-ordinated by Leumi UK, with Cynergy Bank co-lending on the deal, which has refinanced the borrower’s existing loan-on-loan facility.

Martley Capital, a real estate investment management platform and existing client of Leumi UK, is acting as sponsor in this transaction, for the underlying loan portfolio that was originated by its UK debt vehicle, Tunstall Real Estate Credit II Lendco S.à r.l., the borrower.

Commenting on the deal, Oliver Stenning, relationship director at Leumi UK (pictured above), 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 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.

Dan Boakes, managing director of debt capital markets at Martley Capital Group, added: "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."

Mike Knox, head of financial institutions at Cynergy Bank, also said: “We’re delighted to have worked with Leumi UK and Martley on this refinance, which demonstrates our growing presence in the back leverage market.”