Hilco Real Estate Finance (HREF) has completed a £2.3m loan to Zentra Group, a property development and management firm.
HREF provided a 68% loan to value facility with a 12-month loan term to release equity in various new build apartment schemes in Bolton and Sheffield and allow Zentra Group to finance a number of new investments.
The valuations were conducted by Thomas Elliott and Kit Bentley of Gerald Eve.
Meanwhile, Ben Slack of Clarion Solicitors led the legal due diligence on behalf of HREF.
Patrick Davenport-Jenkins, vice president at HREF, originated and led the deal.
He said: “Zentra Group is a well-known and successful property manager and developer in the North of England, and we are proud to be supporting them at this exciting time in their growth.
“We acted very quickly to get this deal done, and it was great to work alongside Scott Nicol of Zentra who drove the deal forward for the borrower.”
HREF anticipates placing over £100m of loans in the final quarter of 2024.
