Aldermore funds London portfolio acquisition with £85m loan

Aldermore has provided an £85m commercial real estate facility to support Brydell Partners in the acquisition of a portfolio of 325 residential units across London.

The five-year interest-only facility has enabled Brydell to acquire five residential schemes located in key commuter hotspots across London, including Waltham Forest, Ealing and Wandsworth.

Aldermore has committed the full loan amount upfront.

The portfolio comprises a mix of one-, two- and three-bedroom apartments, combining stabilised income-producing assets with newly built developments.

Two of the schemes are newly built and currently in the lease-up phase, while the remaining three assets are stabilised and performing strongly.

At the point of approval, the portfolio was around three-quarters occupied, with leasing activity continuing and the developments projected to reach full stabilisation over the coming months.

Steve Isaacs, commercial real estate finance BDM at Aldermore, commented: “We worked closely with Brydell in a highly competitive environment to deliver a funding solution that met its requirements within tight timeframes.

“We look forward to supporting Brydell as it continues to grow and enhance its residential portfolio.”

Azfar Rizvi, commercial director of commercial real estate at Aldermore, added: “Partnering with Brydell on this landmark transaction represents an important milestone for our commercial real estate business.

“This is a high-quality portfolio of homes in areas where rental demand remains strong and reflects our continued focus on backing experienced sponsors with a clear vision and proven track record.”

Christian Walters, head of investment at Brydell Partners, said: “Aldermore demonstrated a strong understanding of both the assets and our investment strategy, working collaboratively to deliver a flexible and dependable funding solution.

“We’re delighted to be establishing this new relationship and look forward to working together on future opportunities.”