SHC Capital and GB Bank complete first tranche of £40m residential portfolio refinance

Real estate finance specialist SHC Capital has completed the first tranche of a multi-stage investment facility for an international asset management group’s £40m residential portfolio across North West England.

The finance, provided by GB Bank, will enable the investor, which manages £10bn of global assets, to recycle capital into its next UK transaction and support further expansion plans.

The refinancing of the unencumbered portfolio is being delivered in two stages, with work now underway on the second tranche.

Tony Tadros, Director at SHC Capital, said:

“We are on track to complete more than £50m of debt finance this year with GB Bank, and it is always a pleasure to work with a team that consistently demonstrates an impressive ability to structure complex transactions and execute under pressure.

This transaction presented a number of complexities, yet at every stage GB Bank delivered practical solutions, allowing us to successfully complete the first tranche despite the recent uptick in swap rates.”

Pankaj Thukral, pictured, Chief Lending Officer and Deputy CEO at GB Bank, added:

“We regard SHC Capital as a vital partner in our growth plans, and it is a pleasure to work alongside the team on transactions such as this.

Deals like this demonstrate our appetite to support high-quality residential transactions.”

Hardik Gogia, Relationship Manager at GB Bank, said:

“We worked closely with SHC Capital throughout the process, and their commitment to structuring the loan and ensuring completion was second to none.

At GB Bank, when we believe in both the asset and the borrower, we are able to move quickly and execute efficiently.

This is a strong borrower with a solid portfolio, and we were pleased to deliver a successful outcome for all parties involved.”

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