Blue Shield completes £24m financing for a pair of shopping centres

Blue Shield Capital has delivered a £24m financing secured against a pair of shopping centres in Redhill and Portsmouth, providing capital to support the sponsor’s asset management strategy across both schemes.

Structured at a combined LTV ratio of 68%, the facilities will fund a programme of leasing initiatives designed to enhance occupancy and rental performance while also supporting the sponsor’s wider business plan.

At the Belfry Shopping Centre in Redhill this includes progressing proposals for a major mixed-use redevelopment incorporating new retail space and 233 residential apartments.

The latest financing takes Blue Shield Capital’s total lending to almost £400m since inception, with the business remaining on track to build a £500m loan book.

The firm is actively targeting loans of £15m to £50m, supporting acquisitions, refinancings and value-add business plans across all commercial real estate sectors.

Gil Ulrich, CEO at Blue Shield, commented: “We’re delighted to support our borrower on these two high-quality retail assets.

“This transaction reflects the type of opportunities we are increasingly seeing, where experienced sponsors require a lender that understands both the real estate and the business plan.”