A prominent real estate investment and development company, MCR Property Group, headquartered in Manchester, has finalized a nearly £50 million refinance deal with Zorin Finance, a lender majority-owned by Avenue Capital Group. The latter is led by billionaire Marc Lasry, former owner of the NBA’s Milwaukee Bucks.

The three-year agreement, which includes an extension option, will enhance liquidity for MCR Property Group and pave the way for further growth opportunities. David Tracey, COO of MCR, expressed excitement about the deal, emphasizing the company’s strategic approach to borrowing and the confidence shown by Zorin Finance.

Alexander Banbury, lending director at Zorin Finance, also expressed pleasure in working with MCR Property Group and praised the diversity of MCR’s portfolio, which played a vital role in structuring the deal.