InterBay delivers £17.5m refinance for mixed-use portfolio transaction

InterBay has completed a £17.5m refinance for an experienced property investor, supporting future acquisitions and the growth of a mixed-use portfolio.

The transaction was introduced to specialist finance account manager Simon Ward by James Baughan, commercial finance director at Independent Lending, and involved a portfolio of 33 properties, comprising 25 commercial and eight semi-commercial assets.

The portfolio includes 62 commercial tenancies across a range of property types, including retail, office and light industrial units.

The client’s objective was to maximise leverage against the portfolio and release capital for future acquisitions.

InterBay agreed lending at 75% LTV based on the market value of the portfolio, enabling the client to access the funding required to continue expanding their property holdings.

Alongside the refinance, InterBay also put in place a £25m credit limit, providing additional flexibility and supporting the client’s long-term acquisition strategy.

Marc Callaghan, head of commercial mortgages at InterBay (pictured above), said: “This was a sizeable and complex transaction involving a diverse portfolio of commercial and semi-commercial assets.

“The client’s objective was clear from the outset: to maximise leverage against the portfolio and release capital for further investment.

“By working closely with the broker and borrower, we were able to structure a solution that met those requirements and provide a strong platform for the next stage of the portfolio’s development.”

James said: “The client wanted to release as much capital as possible from the portfolio to support future acquisitions, and InterBay understood that objective from the outset.

“The team worked closely with us throughout the process, taking the time to understand the client’s plans and deliver a solution that gave them the flexibility to act on new opportunities as they arise.”