Signal Capital Partners has secured a £54.6m club facility from Investec Bank.
The facility, which has been arranged in partnership with Allied Irish Banks (AIB), is secured against two former offices in Sutton and Aylesbury that Signal has converted into build-to-rent (BTR) assets.
Sebastian Walley, from Investec’s real estate team, said: “These projects directly address the critical undersupply in the UK of high-quality rental homes in well-connected urban locations, as well as the acute requirement for more affordable housing. Whilst not always possible, transforming existing buildings is significantly more carbon friendly than ground up development, and this approach typifies our commitment to supporting sustainable urban regeneration and our ability to structure creative, flexible solutions to meet complex borrower requirements.”
Henry Gray, from Signal Capital Partners, added: “Securing this loan marks a significant milestone for our build-to-rent strategy in the UK. The successful refinancing follows strong market interest and competitive terms provided by a number of potential lenders. This was our first transaction with Investec, who proved a reliable partner and demonstrated a commercial approach throughout the execution process. We look forward to working with their team on other opportunities in the future.”
