Leumi UK leads £42.9 million loan-on-loan refinancing of Martley portfolio
Leumi UK leads [ £42.9 million loan-on-loan refinancing ] of Martley portfolio
By Paul Norman
CoStar News
17 April 2025 | 11:02
Specialist real estate lender Leumi UK has led on a £42.9 million loan-on-loan facility to Martley Capital Group to refinance its existing loan book secured against 20 assets across sub-sectors.
Martley Capital, a real estate investment management platform and existing client of Leumi UK, is acting as sponsor for the underlying loan portfolio that was originated by its UK debt vehicle, Tunstall Real Estate Credit II Lendco S.à r.l.
Leumi said the portfolio is well-diversified, and all loans are “performing with assets progressing well against its underwritten business plans, while capex initiatives are being progressed alongside positive letting activity”.
The facility was originated and co-ordinated by Leumi UK, with Cynergy Bank co-lending on the deal, which has refinanced the borrower’s existing loan-on-loan facility.
The transaction is Leumi UK’s first portfolio style loan-on-loan financing.
Dan Boakes, managing director of debt capital markets at Martley Capital Group, said in a statement: “In our second transaction with Leumi UK, their support has once again been invaluable, demonstrating deep expertise in both complex financial structures and the commercial real estate market. This combination was crucial in understanding the unique requirements of this deal. With our refinancing secured, this high performing loan portfolio is now well-positioned and provides longer-term stability for our debt fund.”
Oliver Stenning, relationship director at Leumi UK, added: “This strategic refinancing demonstrates Leumi UK’s expertise in underwriting back leverage and loan-on-loan transactions – an area of growing importance for debt funds in today’s market. Our commitment to going the extra mile for our clients is at the heart of our approach and in this case, our persistence and close collaboration with Martley, along with the co-lending support from Cynergy, enabled us to deliver a tailored solution that met their needs and reinforced our strong partnership.”
Martley Capital Group is a real estate investment advisory platform whose activities cover investing, lending, assets and funds. It was established in 2023 by chief executive Richard Croft with more than 40 staff, five offices across the UK and Europe and circa £900 million in assets under management across 20 mandates. The business has launched a number of new funds and individual transactions, with an opportunistic and value-add focus, covering credit, equities and direct real estate.
To read the full article click here.
