HREF lends £7.6m against Hertfordshire industrial assets

Hilco Real Estate Finance (HREF) has completed a £7.6m bridging loan against two industrial assets in Hoddesdon, Hertfordshire.

The 18-month facility will be used to refinance an existing loan, enabling the private investor to undertake a comprehensive rent review process with the occupier to bring rental income in line with current market levels.

Once the rent review is complete, the investor will seek a term loan refinance.

The borrower is a returning client to HREF, having successfully repaid a previous loan at maturity.

The two industrial assets are part of a wider trading estate to the east of Hoddesdon town centre.

Totalling 75,500 sq ft, both properties are occupied by the same company, a metal distributor.

Charlie Job, director at HREF, said: “This transaction highlights HREF’s ability to move quickly and deliver flexible capital solutions for experienced borrowers.

“The facility is secured against two well-located industrial assets in an established South East distribution market and provides the borrower with the time and certainty needed to perform some asset management and then progress its longer-term refinancing strategy.

“We are pleased to have supported a returning borrower and look forward to seeing the business plan delivered.”