Scottish Widows provides loan against portfolio of 52 properties.
Colliers International has secured £168 million of debt financing over a term of 15 years from Scottish Widows. The loan has been used to refinance a portfolio of 52 office and industrial properties located across England, Scotland and Wales.
The debt advisory team at Colliers secured financing on behalf of a private client on properties that amount to more than 300 different tenants. The £168 million loan is a refinance of existing debt allowing the client to secure an all-in rate of funds below 250bps with shallow amortisation.
Ben Thomason, director in the Colliers debt advisory team who led the transaction, commented: “Securing this debt for our client will unlock the long-term potential of its portfolio, which is both well let and in a range of strong regional locations. Pairing up our clients with the right solution is always a satisfying result and being able to secure the financing for this next chapter is a rewarding outcome.”