Arc & Co has secured a £9.4m refinance from GB Bank against a West End mixed-use portfolio of office and residential assets.
The five-year loan is written at 71% loan-to-value against market value, with the interest rate fixed at 6.2%.
The deal was led by Arc & Co managing director Edward Horn-Smith, who said he had worked with the client for more than 15 years.
To complete the refinance, GB Bank top-sliced a regional PBSA portfolio, allowing the lender to provide the required £9.4m facility.
Horn-Smith (pictured) says: “This was a complex refinance given the current income profile of the portfolio. Having known the client for over 15 years, it was important for us to deliver a solution that provided stability.
“GB Bank worked closely with us to structure a facility that achieved exactly that.”
Pankaj Thukral, chief lending officer at GB Bank, adds: “Long-standing relationships are the bedrock of successful lending. Working with Edward and the team at Arc & Co. allowed us to gain a deep understanding of the client’s long-term strategy.
“We are proud to support this mixed-use portfolio refinance, demonstrating our commitment to flexibility and our ability to structure bespoke facilities that meet the specific needs of sophisticated investors.”
