Tristan Capital Refinances UK Retail Warehouse Portfolio With £32.25m Loan from Martley Capital

Martley Capital Group has agreed to provide a £32.25m mezzanine loan for a term of three years to refinance a portfolio of five retail warehouse assets owned by Tristan Capital Partners’ European Property Special Opportunities 3 Fund.

The loan is secured against five properties located in Luton, Glasgow, Sunderland, Cardiff and Newport let to 45 tenants including B&M, Aldi, Sports Direct and B&Q. The portfolio has a GLA of 897,110 sq ft.

The mezzanine loan from Martley Capital Group is the first debt deal to be completed by new platform founded by Richard Croft and forms part of the company’s Gap Financing Strategy which is intended to provide loans for new acquisitions or where borrowers need to refinance upcoming maturities.

Dan Boakes, Managing Director of Debt Capital Markets at Martley Capital Group said: “We are really excited to launch our new mezzanine product and thrilled that our first deal has been with a sponsor of the quality of Tristan Capital Partners’’.

Tom Tunley, Director of Debt Capital Markets at Martley Capital Group added. “This is exactly the kind of real estate we want to be lending against across the UK and Europe given the profile of the cash flow and resilience of the retail warehouse sector and we look forward to doing a lot more of these deals.’’

The portfolio was originally acquired by EPISO 3 in three separate transactions.

Back to news