Magnetar has secured a £18.26m senior term loan from Leumi UK to support the acquisition of three retail assets in Loughborough, Kings Lynn and Dunfermline.
Magnetar – a US-based alternative asset manager with approximately $18.6bn in assets under management – is working with specialist operating partner Northdale Advisors whose principals have significant experience across all classes of real estate, including retail.
Aidan McKeown, portfolio manager at Magnetar said: “This acquisition is a further milestone in our strategy of investing in dominant, town centre retail destinations that cater to the everyday needs of their local communities.
“Each asset possesses strong fundamentals, including high occupancy rates, resilient income streams, and a diverse tenant base. We are grateful for the continued support from Leumi UK, whose sector expertise and flexibility were instrumental in enabling us to efficiently formulate a sound business plan for this investment.”
Anya Stanislawczyk, portfolio director, at Leumi UK, added: “This portfolio presented a highly compelling financing proposition, on account of each of the respective asset’s quality and dominance within their local catchment, in addition to the significant growth potential identified.
“It’s always a privilege to have the opportunity to work with a repeat client, and Magnetar has a track record of successful execution which we are proud to support. Furthermore, this deal highlights our confidence in the resilience and long-term value of essential, convenience-led retail assets across the UK.”
