SHC Capital arranges refinance backed by £60m+ Glenmore portfolio

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Stanley Studios

The real estate finance specialist SHC Capital has arranged a stabilised credit facility to enable the developer Glenmore Group to accelerate its investment in purpose-built student accommodation (PBSA) and industrial property development.

Founded in 1994, Glenmore Group is a leading industrial property and PBSA developer, having successfully built thousands of student units in university cities from Dundee to Exeter.

The stabilised credit facility – which is secured against more than £60m of Glenmore’s existing portfolio – enables the developer to consolidate part of its portfolio and progress its UK-wide growth strategy.

The refinancing was structured by SHC Capital, and is backed by three consistently performing assets in the Glenmore portfolio – a 250-bed PBSA scheme in Dundee, a 10-storey 123-bed PBSA scheme in Portsmouth and a 23-unit industrial park in Bristol.

Tony Tadros, Director at SHC Capital, commented:

“Glenmore has a strong track record in both development and investment, and for over three decades it has successfully navigated every cycle in the property market. It is well established, highly experienced and has a reputation for excellence.

We’ve worked with its expert team to unlock some of the value in its high-performing property assets, structuring a competitive capital stack that will support Glenmore’s strategic goals.”

Daniel Rubin, CEO of Glenmore Group, added:

“It has been a pleasure to work with SHC Capital, who delivered exactly the facility we were seeking.

This refinancing will enable us to continue executing on our ambitious business plan, and capitalise on exciting acquisition and development opportunities in key regional markets.

Our appetite remains strong in both the industrial and student asset classes, and our proven track record enables us to act quickly and decisively.

We look forward to working with SHC Capital again on our next transaction.”

The transaction highlights Glenmore Group confidence in stabilised, income-producing assets within resilient sectors, and underscores SHC Capital’s expertise in structuring tailored financing solutions for leading property sponsors.

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