InterBay, part of OSB Group, has provided a £10.8m owner-occupier facility to refinance a portfolio of commercial property as a business looks to expand its holdings.
The transaction, introduced by Synergy Commercial Finance, involved the refinancing of four assets comprising warehouse storage and retail units across London and Kent.
The new facility was structured at a lower rate than the borrower’s existing arrangements, releasing headroom to support future investment.
The case was managed by InterBay specialist finance account manager Simon Ward, who worked with David Kay, director at Synergy Commercial Finance, to structure the deal.
InterBay’s in-house underwriting team was also involved, particularly in addressing a policy issue linked to the reletting period of one of the units.
The reletting timetable required an exception under InterBay’s criteria. The lender said a broader assessment of the borrower’s overall business performance and asset base enabled the case to proceed to completion.
Marc Callaghan (pictured), head of commercial lending at InterBay, says: “This case highlights how owneroccupier finance can play a vital role in supporting business development, a key part of InterBay’s proposition.
“Thanks to the expertise of Simon and our underwriting team, we were able to deliver a funding solution that met the client’s ambitions despite a policy challenge.
“We’re delighted to support the next phase of the client’s business expansion.”
David Kay, director at Synergy Commercial Finance, adds: “InterBay were exceptional throughout, with particular thanks to SFAM, Simon Ward and the underwriting team.
“Their proactive approach and commitment were instrumental in getting this deal completed.
“They consistently went above and beyond to ensure steady progress, acting as true partners rather than passive facilitators.”
