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£12Bn

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12+

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Portfolio of UK Shopping Centres

THE CHALLENGE

Bircroft was approached to re-finance debt secured against a portfolio of UK Shopping Centres. The existing debt was reaching maturity with a lender who had decided to withdraw from the retail market. Amidst negative sentiment over the Retail sector, Bircroft was instructed to re-position the existing debt on favourable terms.

THE SOLUTION

The client’s initial strategy was to utilise a debt package to underpin the sale of the portfolio but following a change in direction, it was decided to retain the properties and utilise the debt terms on offer. Bircroft successfully originated a loan facility of c£45m on a new 5-year facility over a 2.70% margin with soft amortisation.

KEY WINS

  • Successful loan facility over the long term

CLIENT TESTIMONIAL

Bircroft was built with a long-term perspective of the direct lending market. We believe that to be successful, we must go beyond originating attractive investments. We must also provide investors with the transparency, service and flexibility of an in-house investment team.

Allan Davies

CEO, Rockcap Inc