Westbrook Partners has secured a £16.7m loan from Investec to finance the acquisition of a portfolio of three multi-let industrial assets in Liverpool, Kettering and Sunderland.
The 269,000 sq ft, highly reversionary, 53-unit Merchant Trade Portfolio is let to a diverse mix of predominantly trade counter tenants.
Manraj Padda, vice president of Westbrook Partners, said: “We are delighted to close on this financing with the Investec team, who along with our respective advisors, worked exceptionally well to execute this transaction in a timely manner. Speed and flexibility are key for us as we continue our drive into strategically located multi-let industrial assets in the UK.”
Alice Harman, originator at Investec, added: “We continue to increase our exposure to select UK industrial and logistics assets, in line with our strong conviction in the sector’s structural drivers and compelling occupier trends. This latest facility kickstarts a new partnership with Westbrook Partners and is a great example of the team’s ability to work with borrowers to understand their business plans and execute bespoke solutions at speed. It was a pleasure to work with the excellent Westbrook team and look forward to growing the relationship over time.”
