Aldermore has provided an £85 million commercial real estate loan to support Brydell Partners’ acquisition of a portfolio of 325 residential homes across London.
The five-year interest-only facility has enabled the London-based real estate investment firm to acquire five residential schemes in Waltham Forest, Ealing and Wandsworth. Aldermore committed the full £85 million loan upfront, providing funding certainty throughout the investment term.
The portfolio comprises a mix of one-, two- and three-bedroom apartments, combining income-producing assets with newly built developments that offer scope for future rental growth.
Two of the schemes are newly completed and are currently being let, while the remaining three are stabilised assets with established rental income. At the time the loan was approved, the portfolio was around 75% occupied, with leasing activity continuing as the developments move towards full occupancy.
Brydell Partners, which was established in 2014, invests across a range of UK real estate sectors, focusing on opportunities where value can be created through active asset management.
For Aldermore, the transaction represents a new lending relationship and highlights the bank’s appetite to fund larger commercial real estate transactions for experienced property investors.
Steve Isaacs, commercial real estate finance at Aldermore, says: “We worked closely with Brydell in a highly competitive environment to deliver a funding solution that met their requirements within tight timeframes.
“Establishing new relationships with high-calibre sponsors is a key priority for us, and this deal showcases the expertise, agility and certainty of execution that Aldermore brings to complex real estate deals.
“We look forward to supporting Brydell as they continue to grow and enhance their residential portfolio.”
Azfar Rizvi, commercial director, commercial real estate at Aldermore, adds: “Partnering with Brydell on this landmark transaction represents an important milestone for our Commercial Real Estate business.
“While the market backdrop remains challenging, this deal reflects continued investor appetite for well-located rental assets in London.
“This is a high-quality portfolio of homes in areas where rental demand remains strong and reflects our continued focus on backing experienced sponsors with a clear vision and proven track record.
“At Aldermore, we pride ourselves on taking a pragmatic and relationship-led approach, structuring facilities that support both immediate acquisition and longer-term asset performance.
“This deal demonstrates our ability to deliver funding solutions at scale while helping our customers unlock opportunities for sustainable growth.”
Christian Walters, head of investment at Brydell Partners, says: “Aldermore demonstrated a strong understanding of both the assets and our investment strategy, working collaboratively to deliver a flexible and dependable funding solution.
“We’re delighted to be establishing this new relationship and look forward to working together on future opportunities.”
