Hilco Real Estate Finance has successfully completed its inaugural loan transaction of 2024, marking a noteworthy development in the company’s lending portfolio. The deal involves a £13 million loan, secured for a duration of two years, against two prominent properties located in Yorkshire.

This strategic financial manoeuvre facilitated the refinance of two key assets: a 130-bed Purpose-Built Student Accommodation (PBSA) block and a 100-bed residential block. A significant aspect of this transaction was the release of a separate building previously tied up as part of the security with the former lender. This move now leaves the building unencumbered, providing the sponsors with an opportunity to develop additional residential units.

The complexity of the deal’s structure posed unique challenges. However, through the collaborative efforts of Michael Ward from MAF Finance Group, these obstacles were successfully navigated. Ward’s dedication and expertise were instrumental in finding effective solutions that have ultimately strengthened the borrower’s position.