Assetz Capital completes a duo of deals for £12 million

By Bridging Loan Directory 28th June 2024

Assetz Capital, a leading funder in the SME commercial property and residential development markets, is delighted to announce the recent completion of two deals, which showcases the breadth of their funding capability and the diversity of their project experience.

The first transaction involved a £5m commercial mortgage to refinance an ibis Styles hotel at Waterloo Street in Glasgow, owned by a private equity firm.

David Hehir, the Relationship Director at Assetz Capital who led the deal commented:

“I was delighted to be able to support the re-finance of the ibis Styles Glasgow Central Hotel with a £5m debt package.

We worked closely with Maven Capital Partners to facilitate its delivery which re-affirms our commitment to the hotel sector in Scotland and the wider UK market.”

The second is a £7m development finance deal, which will enable the ground up build of 3 luxury, detached properties in Surrey.

Jon Pike, the Relationship Director at Assetz Capital who managed this particular project commented:

“It was a pleasure to structure this development deal for such a highly professional team, in this case to enable the build of 3, beautifully designed and crafted manor houses in a stunning part of Surrey.

Whilst title and site access issues proved a legal challenge, outstanding teamwork and the can-do attitude of the team at Assetz and the developer found the way through.”

Andrew Fraser, Chief Commercial Officer at Assetz Capital added:

“These two most recent transactions for £12m, highlights our expertise across all facets of the property sector. It showcases our capability to successfully support business no matter the type of project or location.

From financing the hotel and leisure industry to enabling ambitious ground up residential property developments across every region of the UK, the team at Assetz Capital have decades of property banking experience to enable these deals to happen for our brokers and customers.

We are extremely lucky to have in market boots on the ground to enable us to support all regional property investment and development funding.”