Blackfinch Property has completed a £20m refinancing deal for a mixed portfolio of 54 residential and commercial properties across East London.
The real estate arm of Gloucester-based investment company Blackfinch Group said that this was its largest loan to date.
The 24-month deal from Blackfinch Property will enable the landlord to continue to provide high quality residential and commercial properties to London tenants, with funds also released for further improvement works. All investment opportunities at Blackfinch Property are scored against criteria that will deliver Environmental, Social and Governance (ESG) benefits.
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The group said that the loan was structured to incentivise the borrower to improve the Energy Performance Certificate (EPC) ratings for the 30% of the properties that were less energy-efficient should the energy saving work be completed in time.
Phil Downie, Blackfinch Property investment manager, said: “We're very pleased to support this experienced landlord in providing the highest quality homes and workplaces for Londoners. This is Blackfinch’s largest loan to date and is backed by top London real estate with the interest fully serviced by the underlying income. The properties already represent some of the best homes in their markets and will be further improved over the loan term by upgrades to their energy efficiencies.”
This is the seventh commercial term loan issued by Blackfinch Property since the new product launched in January 2023, with the first helping to secure the future of a popular restaurant just outside of Birmingham city centre.
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