Leumi UK signs £27.5m refinancing deal with Oranim Group
Leumi UK, the London-based subsidiary of Israel’s leading international bank, has closed a £27.5m deal with property developer Oranim Group to refinance Woodland Views, two residential blocks located at 20-22 Quebec Way.
Woodland Views represents Oranim Group’s most recent investment in the UK and demonstrates its commitment to the UK property market.
Andy Mallin, CBO at Leumi UK, says: “This new deal is the first to follow a series of strategic changes across our Property Finance business line and marks a significant step forward for the team. We’re thrilled to have kicked off 2020 with such a promising deal and look forward to many more to follow as we grow our activity in various areas within the UK property sector.”
Gez O’Sullivan, relationship manager, property finance, adds: “This is a high-spec property with a developer who is well-known to the Leumi Group, but new to our team in the UK. Oranim is a renowned Israel-based development group with an impeccable 40-year track record in high-end residential mixed use and hotel developments. They are a strong relationship client of our parent group and we look forward to further collaboration moving forward.”
Menachem Oren, CEO of Oranim Group, comments: “This is the first time we have worked with Leumi UK and I was highly impressed by the pace of the service. The turnaround from when the request was submitted to when we actually received the credit was very quick. The Woodland Views project is an important part of our portfolio and we are delighted we now have a trusted partner that we can turn to on similar deals in the area moving forward.”
With a well-established reputation in a range of construction and investment projects, Leumi UK’s property finance department takes pride in its close relationships with developers and investors to facilitate both the construction and refinancing of residential, mixed-use and commercial property, student accommodation, care homes and retirement living projects. The team has a particular willingness to fund modular methods of construction, with a focus on providing affordable housing for the local community.
