The transactions represent the fourth and fifth deals completed by Leumi UK in support of Magnetar and Northdale Advisors’ (acting as operating partner) UK retail strategy, further strengthening the established relationship between the parties.

The first of these transactions is an £18.4m senior term loan facility for the acquisition of Kingsgate Shopping Centre, which is 94% occupied, in Huddersfield, West Yorkshire.

The second deal is a £7.9m senior term loan facility for the acquisition of Stanley Square, an open-air retail and leisure destination that is 97% let and located in the centre of Sale, Greater Manchester.

Aidan McKeown, portfolio manager at Magnetar, commented: “We are pleased to again partner with the team at Leumi UK, which has demonstrated a strong understanding of the retail sector and a dedication to finding tailored solutions.

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“These acquisitions complement Magnetar’s existing UK retail portfolio, as both assets are high-occupancy, dominant centres with strong operating fundamentals and a stable, diversified tenant base driving consistent and predictable cash flows.”

Jon Taylor, partner at Northdale Advisors, said: “The Huddersfield and Sale assets are very attractively located and benefit from a strong tenant mix.

“With our planned asset management initiatives — alongside recent regeneration works locally — we expect both retail destinations to thrive.”

Anya Stanislawczyk, relationship director at Leumi UK, added: “These transactions further demonstrate our ongoing commitment to building trusted, long-term relationships with our sponsors, while working closely with them to find financing solutions that enable them to achieve their objectives.

“Backed by dominant town-centre positions, diversified income streams and Magnetar and Northdale’s hands-on approach to asset management, both assets are well positioned to deliver resilient income and long-term value.”