Mera refinances south-east pub portfolio
Specialist lender provides £12m refinance package to private equity-backed pub chain
Boutique real estate lender, Mera Investment Management (“Mera”), has provided a £12m co-loan with Ortus Secured Finance to Red Lion Holdings (“Red Lion”), the owner of a collection of pubs and inns located across the south-east of England.
The loan is secured against a five-pub portfolio and will be used to refinance the existing banking facilities and provide flexible capital to support the next stage of Red Lion’s business plan.
Ed Matthews, chief executive of Mera IM said:
“With mainstream banks continuing to take a more conservative approach, we are increasingly being presented with interesting and entrepreneurial commercial lending opportunities.
This trend will likely play to our strengths during the coming year, and we have a strong appetite to finance lots more exciting property development and investments.
The process of working with Ortus Secured Finance was seamless and we are aiming to jointly fund £100 million of loans over the next 12 months”