InterBay Commercial completes £30m funding for mixed use portfolio client
InterBay Commercial, part of the specialist bank OSB Group, has announced the completion of a significant facility secured against more than 400 properties in central and northern England.
The facility was arranged in conjunction with SPF Private Clients, the UK’s largest specialist broker, for one of their retained clients who was seeking to refinance and raise capital on their total portfolio. The portfolio included a variety of residential investment property types, including flats, houses, HMOs and small and large blocks of flats, with solicitors brought into the process from an early stage to ensure the client’s requirements could be met due to the complex company structure.
Adrian Moloney, group sales director, OSB Group commented, “This was an extremely complicated loan but one InterBay Commercial was able to accommodate due to the team’s in-depth technical expertise and knowledge.”
“Communication was key and everyone involved worked together to satisfy the requirements of the mortgage offer and to complete the loan and release the capital requested within the client’s timeline. It’s a great example of the strong relationship and trust that InterBay Commercial has built up with SPF Private Clients and further illustrates the expertise and innovation that InterBay brings to multifaceted deals.”
Derek Simpson, director, SPF Private Clients Debt Advisory added, “InterBay Commercial have provided a tailored solution to a very complex funding requirement and considerable work has been undertaken by all parties to deliver an outcome the client is delighted with in record time.”