Metro Bank has provided Charterhouse Property Holdings Limited with £18m in funding to refinance an established portfolio of student and key worker accommodation on the south coast.
Established over 20 years ago, the newly named Charterhouse Group has been focused on acquiring and extensively renovating a number of properties.
It currently lets over 250 units of student and keyworker accommodation in the Hastings area.
“Charterhouse required a banking partner to assist us with the rationalisation of our mortgage lending for the commercial element of our portfolio,” said Patrick Hanlon, director at Charterhouse.
“Following a strategic review, we agreed terms with Metro Bank to provide an £18m facility, which would encompass all of these properties and simplify our banking structures moving forward.”
Craig Wilson, director of real estate finance at Metro Bank (pictured above), added: “We’re absolutely delighted to have been able to support Charterhouse with this finance solution.
“Since inception, Charterhouse has built an excellent reputation for providing high-quality accommodation on the south coast.
“We look forward to working closely with them and supporting them with their future growth aspirations.”
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