SHC Capital has arranged a stabilised credit facility for developer Glenmore Group, secured against more than £60m of purpose-built student accommodation (PBSA) and industrial assets.
The refinancing enables Glenmore to consolidate part of its existing portfolio while freeing up capital to accelerate further investment and development activity across the UK.
The facility is backed by three established assets within the developer’s portfolio: a 250-bed PBSA scheme in Dundee, a 10-storey 123-bed PBSA development in Portsmouth, and a 23-unit industrial park in Bristol.
Founded in 1994, Glenmore Group has delivered thousands of student accommodation units across major university cities including Dundee and Exeter, alongside a growing industrial property portfolio.
The transaction was structured by SHC Capital as a stabilised credit facility designed to unlock value from income-producing assets while providing funding flexibility for future acquisitions and developments.
STRONG TRACK RECORD
Tony Tadros, director at SHC Capital, says: “Glenmore has a strong track record in both development and investment, and for over three decades it has successfully navigated every cycle in the property market. It is well established, highly experienced and has a reputation for excellence.
“We’ve worked with its expert team to unlock some of the value in its high-performing property assets, structuring a competitive capital stack that will support Glenmore’s strategic goals.”
DEVELOPMENT OPPORTUNITIES
Daniel Rubin, CEO of Glenmore Group, adds: “It has been a pleasure to work with SHC Capital, who delivered exactly the facility we were seeking. This refinancing will enable us to continue executing on our ambitious business plan, and capitalise on exciting acquisition and development opportunities in key regional markets.
“Our appetite remains strong in both the industrial and student asset classes, and our proven track record enables us to act quickly and decisively. We look forward to working with SHC Capital again on our next transaction.”
