Assetz Capital has announced the recent completion of two deals: one in Glasgow and the other in Surrey.
The first transaction involved a £5m commercial mortgage to refinance an ibis Styles hotel (pictured) at Waterloo Street in Glasgow, owned by a private equity firm.
David Hehir, the relationship director at Assetz Capital who led the deal, said: “I was delighted to be able to support the re-finance of the ibis Styles Glasgow Central Hotel with a £5m debt package.
“We worked closely with Maven Capital Partners to facilitate its delivery which re-affirms our commitment to the hotel sector in Scotland and the wider UK market.”
The second is a £7m development finance deal, which will enable the ground-up build of three luxury, detached properties in Surrey.
Jon Pike, the relationship director at Assetz Capital who managed this project, said: “It was a pleasure to structure this development deal for such a highly professional team, in this case to enable the build of three, beautifully designed and crafted manor houses in a stunning part of Surrey.
“Whilst title and site access issues proved a legal challenge, outstanding teamwork and the can-do attitude of the team at Assetz and the developer found the way through.”
Andrew Fraser, chief commercial officer at Assetz Capital, added: “These two most recent transactions for £12m, highlights our expertise across all facets of the property sector. It showcases our capability to successfully support business no matter the type of project or location.
“From financing the hotel and leisure industry to enabling ambitious ground up residential property developments across every region of the UK, the team at Assetz Capital have decades of property banking experience to enable these deals to happen for our brokers and customers.
“We are extremely lucky to have in market boots on the ground to enable us to support all regional property investment and development funding.”