Brotherton Real Estate

It was great working with ICG again on the financing of these assets. There is still considerable appetite to deploy capital in the industrial/logistics sector. It was a pleasure too working with Dan and the Leumi team with whom we have a really great relationship. 

It was great working with the teams at Fiera Real Estate UK, Wrenbridge and Alpha Property Lending to complete this financing. We continue to see strong appetite from lenders funding industrial speculative development. Occupiers continue to choose modern, newly built industrial units with strong ESG credentials. Demand remains resilient for small- and mid-box units in prime locations from a diverse range of occupiers. Due to a reduction in the development pipeline of new speculative space there is continued upward pressure on rental growth in such areas creating an attractive proposition for funders.

Great to work with Marchmont Investment Management and NW1 Partners again on the financing of this 7 asset open storage portfolio. Marchmont are one of the pioneers in this relatively new asset class, but we are finding more lenders now understand and are positive on the sector. There is certainly increased liquidity in the space. It was a pleasure working with Gez and the Leumi UK team as always and it’s great to continue to grow our relationship with them. 

We officially turned 10 yesterday and decided to start the celebrations early by surprising our founders with a celebratory lunch at the end of last week.

Further evidence of the breadth of our market coverage. Closing this transaction with the DRC Savills IM team for our client, Princeton, on their best in class student asset in Madrid adds to our experience across Europe. Brotherton is increasingly active on a pan European basis and working with local lenders as well as UK and US based debt funds to increase their exposure to European real estate.

Working on behalf of our client, Tristan Capital Partners we arranged this financing with Leumi UK (providing the senior) and Delancey (providing the mezz) to refinance this office building in Stratford. Another fantastic example of the breadth of liquidity in the debt markets, especially for top quality sponsors and assets.

2024 started with the Brotherton team taking 14 clients away to St Anton. A lot of fun and thankfully no injuries. No January blues here.

2023 highlights – c.£1.5BN of debt across 40 deals

Fantastic execution on this £200m refinancing of two BTR assets in London, for our client, Invesco Real Estate. HSBC were the sole lender which makes this one of the largest single bank deals in the UK this year. Further evidence of the liquidity in the market, and a great demonstration of the appetite from the lender universe for living sector assets, especially when backed by high quality sponsors. 

We’ve been working with a number of sponsors in the open storage space for the last couple of years and have seen the journey as it’s evolved into a more mainstream asset class. A number of lenders struggled with the concept initially but we’re now seeing very strong lender appetite in the space for carefully underwritten deals by good sponsors/asset managers. The deals below ticked all the boxes and great to work with OakNorth, Cerberus and ALMCOR on these ones.