The properties being acquired by the residential PRS investor are currently vacant, with one being marketed for lettings while the other is being marketed for sale by an unnamed real estate investment group.
Valuations for the transaction were undertaken by Newmark while legal due diligence was provided by Clarion Solicitors.
This latest 24m follows a £27m bridge against Mayfair and Knightsbridge properties by HREF.
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Brad Altberger, CEO at HREF (pictured above), who originated the loan commented: “We are seeing increasing demand for lending above £20m in 2025 as our reputation in the UK market grows, and with fewer active property lenders able to make loans up to £100m.
“This deal is a great way to start Q2, after a really active first three months of the year, and we expect to ramp up the levels of lending significantly in 2025.”
Charlie Job, vice president at HREF, added: “The acquisition of the two blocks out of receivership was an excellent opportunity for the borrower. We were able to provide fast acquisition funding, enabling the borrower to take advantage of the opportunity with certainty of funding and execution.
Since completing on the acquisition, the scheme is already over 15% let in a matter of days, evidencing the strong underlying residential demand in the area.”
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