Ortus Secured Finance completes £14.4m structured finance facility for industrial asset refinance

Ortus Secured Finance has completed a £14.4m structured finance facility to refinance a substantial industrial and logistics asset in the North West.

The facility enables the borrower to continue implementing its asset management strategy while giving it the flexibility to continue lease discussions with the existing occupier, pursue multiple repayment and exit options, and ultimately maximise the long-term value of the investment.

The deal was secured against a substantial industrial and logistics warehouse extending to more than 470,000 sq ft.

Jamie Russell, commercial director at Ortus Secured Finance, commented: “Taking time to understand the borrower’s requirement in this scenario meant that we could build in the flexibility to pursue multiple exit strategies.

“Brotherton was a fantastic introducer to work with. Their reputation as advisors is excellent and they were critical in facilitating a smooth completion."

Ben Tolhurst, asset management director at Clearbell Capital, the asset manager, said: “This facility gives us the flexibility we need to actively manage the asset and explore multiple options as the market evolves.

“Ortus understood that requirement from day one, and Brotherton’s role meant we could move quickly to completion, so we now have the headroom to pursue our strategy.”

Tanya Wolfe, managing director at Brotherton Real Estate, added: “Ortus understood the asset, the business plan and the sponsor’s objectives from the outset, and structured the facility accordingly.

“That kind of flexibility is increasingly valuable for sponsors actively managing income-producing assets, and we were pleased to support both the sponsor and Ortus through a smooth execution.”