LRC Group has secured financing of £53m from Investec Bank to support the acquisition of three residential assets in Hounslow, Surrey Quays and Bedford.
The portfolio comprises 293 residential units and forms part of LRC Group’s continued expansion across the UK residential sector, focused on value-add and income-producing multifamily assets in strong rental locations.
Sebastian Walley, from Investec Real Estate, said: “Building on a structure that has worked well across the relationship, Investec was able to shorten timelines and deliver the execution certainty required to support these acquisitions. The focus throughout has been on aligning the financing with LRC Group’s investment strategy, while enabling efficient deployment of capital as the portfolio continues to expand.”
Chris Dimitriadis, CEO of LRC Group, added: “Investec has consistently demonstrated a strong understanding of LRC Group’s investment approach and the practical realities of executing residential transactions. Investec’s ability to move quickly, reuse proven structures and maintain a collaborative partnership approach has made Investec a valued financing partner. The support provided across multiple transactions has helped LRC to execute its strategy with confidence, and the group looks forward to continuing to build on the partnership as the residential portfolio grows.”
