OakNorth provides £50m revolving credit facility to CLS Holdings

OakNorth has provided a £50m revolving credit facility (RCF) to CLS Holdings to support refinancing and ongoing asset management across its European property portfolio.

CLS Holdings, a London-listed real estate investor, owns and manages office and commercial assets across the UK, Germany and France. The business has a portfolio valued at approximately £1.7bn and more than 650 occupiers across 80 sites.

The facility will be used to refinance existing debt, as well as support continued investment into the portfolio, including refurbishment, leasing activity and asset repositioning.

The strategy reflects ongoing demand for modern, sustainable office space, driven by occupier requirements, corporate net-zero targets and regulatory pressures.

Harry Stokes, Chief Financial Officer at CLS Holdings, said:

“We are pleased to be partnering with OakNorth on this facility, which provides additional flexibility as we continue to optimise our portfolio across key European markets.

OakNorth demonstrated a strong understanding of our business and the complexities involved in structuring revolving credit facilities, delivering a solution quickly and with transparency.

This support will enable us to continue investing in high-quality, sustainable office space while maintaining a disciplined approach to capital allocation.”

Mohith Sondhi, Managing Director of Debt Finance at OakNorth, added:

“CLS Holdings is a well-established platform with a strong track record of managing office assets across major European cities.

We continue to see demand for high-quality, sustainable workspace, driven by occupier expectations and evolving regulatory requirements.

Supporting experienced sponsors investing in and upgrading their portfolios remains a key focus, particularly in more complex structures such as revolving credit facilities.”

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