Ortus Secured Finance has completed a £14.4 million structured finance facility to refinance a substantial industrial and logistics asset in the North West.
The facility, introduced by Brotherton Real Estate, is secured against a warehouse extending to more than 470,000 sq ft.
It will allow the borrower to continue its asset management strategy, including lease discussions with the existing occupier, while retaining several repayment and exit options.
Ortus said the structure was designed to support the long-term value of the investment rather than tie the borrower to a single predetermined exit.
The transaction comes as lenders become more selective over commercial property, although the companies said demand remained for bespoke financing of well-located industrial assets.
Jamie Russell (pictured), commercial director at Ortus Secured Finance, says: “The strongest transactions are often those where borrowers have more than one credible route forward. Our role is to structure facilities that support those options rather than restrict them.
“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 were 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, says: “This facility gives us the flexibility we need to actively manage the asset and explore multiple options as the market evolves. In a more selective lending environment, lenders willing to structure around individual business plans rather than standardised criteria are genuinely valuable.
“Ortus understood that requirement from day one, and Brotherton’s role meant we could move quickly to completion, and we now have the headroom to pursue our strategy.”
Tanya Wolfe, managing director at Brotherton Real Estate, adds: “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.”
