Shawbrook has provided a £33 million refinance facility for a diversified portfolio of 20 commercial properties across 19 UK towns, marking a new client relationship with an established property investor.
The transaction, arranged through Shawbrook’s structured real estate team, covers more than 80 leases across a range of commercial uses. The portfolio includes assets in sectors such as cinemas and bingo halls, alongside other commercial property types.
Portfolio structure and management
The five-year facility features a repayment profile aligned to anticipated cash flows from the portfolio. The borrower is a UK property company backed by an experienced sponsor, with asset management provided by Capreon, which oversees more than £1.5 billion of European real estate.
Robert Mackenzie-Carmichael, managing director at Capreon, said: “Their commercial approach and collaborative mindset stood out. Shawbrook demonstrated a strong understanding of the assets and our business plan, delivering a flexible and well-structured financing solution aligned with our long-term strategy.”
Lender’s approach to complex portfolios
Tirath Singh, relationship director at Shawbrook structured real estate, said the deal reflected the team’s structuring capabilities. “This project highlights our structuring capabilities in coordinating so many moving parts. It demonstrates how we were able to deliver a fully tailored solution that aligned seamlessly with the portfolio’s asset management plan,” he said.
The transaction comes as commercial property finance continues to adapt to changing market conditions. While residential property taxation remains under review, commercial property investors are navigating a complex lending environment.
The deal also follows broader changes in property finance regulation, with many landlords still adapting to new digital tax requirements.
Future opportunities
Shawbrook indicated it intends to develop the relationship further, with additional opportunities anticipated alongside the borrower, sponsor, and Capreon. The lender has positioned itself to handle multi-asset portfolios requiring complex structuring arrangements.
The financing arrangement includes value-enhancing initiatives and planned disposals as part of the portfolio’s business plan, though specific details of the asset management strategy were not disclosed.