UK lender Barclays has provided Harwood Real Estate with a £76 mln (€92 mln) term loan to facilitate its acquisition of a portfolio of 41 properties in Scotland.
UK lender Barclays has provided Harwood Real Estate with a £76 mln (€92 mln) term loan to facilitate its acquisition of a portfolio of 41 properties in Scotland.
The deal will see Barclays act as lender, facility agent, security agent and arranger for Harwood Real Estate, which is expanding its portfolio with a mixture of assets including retail warehouses, high street shops and industrial property.
Harwood Real Estate is the commercial property platform of The Harwood Group, which manages a number of public and private funds, most of which have an active value approach. This involves shareholders taking an interest in the running of the businesses in which they invest.
The transaction was managed and funded out of Barclays’ Edinburgh Corporate Banking office.
Jamie Grant, head of corporate banking for Central Scotland at Barclays, said: 'While this is our first piece of business with Harwood, we are now well-positioned to support its ambitious growth and are already looking at future opportunities together.'
Harwood is the latest in a string of property transactions closed by Barclays' Corporate Banking team in Scotland, including an innovative debt finance deal with North Lanarkshire council, an additional funding agreement with Drum Property Group and a corporate refinance package with Chris Stewart Group.
