The newly built Grade A multi-let industrial asset, which is part let, has now entered a defined stabilisation phase as the sponsor progresses its leasing strategy.
The complex borrower structure, backed by an authorised UK investment manager with a broad investor base, required detailed underwriting and a carefully structured solution.
The facility refinanced a matured development loan and provided the sponsor with time and flexibility to grow contracted income across the scheme as it transitions from construction to stabilised investment asset.
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Jamie Russell, commercial director at Ortus Secured Finance, commented: “This Grade A industrial site required us to lend into a sophisticated borrower structure which is part of a regulated asset manager.
“It was critical to structure a facility that supports the sponsor’s leasing strategy while remaining flexible enough to accommodate the sponsor requirements.
“We are pleased to have provided a solution that enables a confident and controlled stabilisation.
“As part of Kvika Banki, our balance sheet capability means that we are increasingly lending towards the upper end of the SME debt space. Borrowers are choosing certainty of funding and a lender with complete discretion over the capital to be deployed, which is fuelling our continued growth.”
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