FRP arranges £3.3m refinance for multi-asset commercial portfolio

The real estate advisory team at FRP has arranged a £3.3m facility to refinance a commercial portfolio.

The portfolio is valued at around £7.45m and comprises two office assets in central London, one of which is currently vacant, and an industrial asset in Staffordshire let to a well-known consumer brand.

The new facility refinances existing debt across two lenders.

The three-year loan was agreed at 44% LTV, without personal guarantees, with the lender underwriting the portfolio as a whole rather than asset by asset.

The transaction was led by Sam Beaumont, finance advisor with the real estate advisory team at FRP (pictured above), after the case was referred to him by colleagues in FRP’s Birmingham restructuring team.

The Birmingham team had identified the client’s refinancing requirements and brought the opportunity to Sam to structure a solution for a part-vacant, multi-asset portfolio spanning two regions.

The portfolio sits within a Mauritian trust structure, adding a further layer of complexity.

Completion was also contingent on the borrower selling a separate property to repay part of the existing debt.

Sam commented: “There were cheaper facilities on the market, but the client was clear that the lender’s approach — commercial, proactive and always ready with a solution rather than a roadblock — made the difference.

“Despite the complexities involved, it made for a genuinely smooth transaction to deliver.

“This one came to us through our Birmingham restructuring team, who recognised the refinancing need and knew who to bring it to internally.

“That kind of internal collaboration means clients get access to the right specialists quickly, without having to go looking for them themselves.”