FRP's Real Estate Advisory team has completed a £3.3m commercial property refinance for a portfolio of three assets. This portfolio comprises two central London offices and an industrial property located in Staffordshire, with one of the London assets currently vacant.
The portfolio, which has an approximate valuation of £7.45m, secured a three-year loan at 44% loan-to-value. This financing was arranged without personal guarantees and replaces existing debt previously held with two different lenders.
The lender assessed the portfolio on a whole-portfolio basis, considering the let assets, including a long-let property in Staffordshire, and recent market interest in the vacant London office. The transaction involved a Mauritian trust structure and required the borrower to sell a separate property to partially repay existing debt before completion.
Sam Beaumont, a finance advisor with FRP’s Real Estate Advisory team, noted that while alternative facilities offered lower rates, the client prioritised the lender’s approach to structuring solutions for complex portfolios. The deal reflects activity in the specialist commercial lending market for multi-asset portfolios with vacancy challenges.