Aldermore provides £5m refinance facility to Quintain subsidiary
Aldermore, the specialist lender, has provided a £5m, 10 year, interest only Commercial Residential Investment refinance facility to Quintain Alto Residential Limited – a subsidiary of Quintain, which owns 13 apartments in Wembley Park’s Alto building, a development completed in 2017. The apartments are privately let and managed by Wembley Park Residential, Quintain’s private sales and lettings management team.
Warren Harrocks of Heron Financial advised Quintain and worked alongside James Maunder Taylor, head of finance advisory at Crestbridge Property Finance who recommended Aldermore for the financing as a lender who would consider a lower debt quantum and provide a high level of flexibility and service. This deal represents one of Aldermore’s major commercial residential investment transactions.
James Maunder Taylor, director at Crestbridge Property Finance said: “I have worked with Aldermore for many years, as the team can always be relied upon to take a commercial approach and deliver quickly; they were the perfect fit to meet Quintain’s requirements for this deal.”
Caroline Baker, lending manager at Aldermore said: “This financing demonstrates our ability to work with large developers to provide them with the bespoke facilities they need.
“We are delighted to be working with Quintain and to have been involved in such a high profile scheme. We worked hard to provide competitive terms which suited Quintain’s requirements and were able to turn the deal around swiftly. This deal underpins why Aldermore exists to back clients like Quintain and their ambitions.”