North West-based entrepreneur secures £8.15m to expand property portfolio
A North West-based entrepreneur has secured £8.15m in funding from Cambridge & Counties Bank to refinance a portfolio of mixed-use properties as well as acquire new assets.
The loan is one of the largest made by the bank in 2020. The client was introduced to the bank by Paul Goodman, owner of Goodman Corporate Finance, a Cambridge & Counties Bank panel broker and chair of the National Association of Commercial Finance Brokers (NACFB).
The funds will be used to refinance a portfolio of established and fully tenanted, mainly commercial properties located primarily in the North West and release an additional c. £4m for further selected purchases.
Carl Ashley, regional director North & Scotland at Cambridge & Counties Bank, said: “In what is a challenging market, we are delighted to be supporting an established investor with a strong track record in the North West with a very competitive refinancing and fund-raising facility.
“We believe this again showcases the strengths of the bank, in particular our relationship-based market approach and deep understanding of the property sector.”
Goodman added: “Cambridge & Counties Bank offers a dedicated proposition for its clients and broker partners. It has very much sought to remain fully engaged across 2020, a testament to its professionalism and competitive ambitions.”