United Trust Bank’s Structured Property Finance division has completed a £25 million structured refinance and investment facility for Rivers Birtwell Limited, a long-term client with a portfolio of student and HMO properties across the UK.
The funding package, secured against more than 30 properties with a combined value of around £33 million, will refinance existing debt, release equity, and provide undrawn capacity for future acquisitions and refurbishments.
The 36-month facility was arranged through Bircroft Private, with director Tom Robinson advising Rivers Birtwell and working alongside UTB’s senior relationship manager, Steve Dias.
Rivers Birtwell was founded in 2013 by George Birtwell and Oliver Dorman, who were motivated by poor housing standards for students in Brighton. The company has since grown into a significant provider of high-quality accommodation for students and young professionals nationwide (example interior pictured).
Dorman, the group’s chief executive, said: “UTB have been pivotal in the growth of our business over the past 10 years. Their ability to tailor a facility that meets our specific needs and supports the continued growth of our portfolio has been unique.
“This has come from a willingness to truly understand both the opportunities but also the challenges our business presents. We look forward to continuing this relationship in the future.”
Robinson added: “To facilitate the continued growth of the Rivers Birtwell business, the importance of a funding partner that understands the needs and aspirations of the borrower is key.
“Having successfully grown together over the last decade from the very first loan of only £250,000 to now locking in a £25 million structured facility is a big moment, but is by no means the end of the story.”
Alex Tyrwhitt, director of structured property solutions at UTB, said: “At UTB we always aim to build strong, long-term relationships with our customers and introducers and I’m proud to say that UTB’s Structured Property Finance team has supported various Rivers Birtwell projects and funding requirements for the best part of a decade.
“I am delighted to have completed this new £25 million facility which will help the business continue to thrive. It was a pleasure to work with Tom, George, Oliver and the Rivers Birtwell team and I look forward to many more successful deals in the future.”
