Turning Point Capital Advisory arranges £32m refinance for mixed-use portfolio

Turning Point Capital Advisory has arranged a £32m investment term facility for a private sponsor, refinancing a mixed-use portfolio of commercial and residential assets across the South East of England.

The portfolio spans retail, dentistry and commercial holdings.

The facility, provided by an undisclosed lender, was structured at 70% LTV and priced at 2.25% over base rate, on behalf of a high-net-worth foreign national borrower.

The sponsor initially approached Turning Point seeking an acquisition bridging loan.

However, rather than layering short-term debt onto the purchase, Turning Point restructured the approach entirely, refinancing the sponsor’s existing portfolio to release the equity required for the acquisition and replacing expensive bridging capital with a single term facility at more sustainable pricing.

The transaction took four months to complete, progressing through two religious holiday periods.

Marcus Emadi, CEO at Turning Point Capital Advisory (pictured above), said: “The sponsor came to us for a bridging loan, but the right answer was a different one.

“By refinancing the portfolio as a whole we released the equity needed for the acquisition and put the borrower on materially better terms than short-term debt could offer.

“Foreign national borrowers are often underserved by mainstream lenders, and mixed-use portfolios need a lender that genuinely understands blended income.”

Turning Point Capital Advisory acted as debt advisor to the sponsor and arranged the facility, with the transaction led by Marcus and Charlotte Coates.

The borrower, who requested to remain unnamed, was supported by their in-house legal team.