Brydell Partners has secured two senior loans across three assets in Oxford from Investec Bank.
The facilities are secured against The Spireworks purpose-built student accommodation (PBSA) scheme, the newly completed and fully let North Bailey House office building (pictured) and a mixed-use SME hub called Newtec.
All of the assets sit within journey, an operating platform owned by Brydell Partners funds which supports innovation in key UK knowledge economies. The loan provides journey with the capital to execute on its ambitious growth plans through new acquisitions and development commitments.
Jeff Mackenzie, from Brydell Partners, said: “We are pleased to establish a relationship with Investec. These financings allow us to re-invest capital into our exciting development pipeline across the journey portfolio and pursue bolt-on acquisitions. Journey has aggregated 25 assets across Oxford, Cambridge and Manchester and continues to target new opportunities.”
Ed Boughton, director, origination at Investec, added: “This financing reinforces Investec’s commitment to providing our clients with flexible, tailored funding solutions that support long-term growth and value creation. We were pleased to deliver this facility in a timeframe that allowed Brydell Partners to execute on its business plan for the PBSA asset, while freeing up liquidity to enable Brydell to unlock new opportunities at a highly attractive market entry point.”
