Leumi, the UK specialist lender has provided £65 mln (€75 mln) loan to Martley Capital Group to help the recapitalisation and refinancing of The Mailbox, an iconic building in Birmingham city centre and one of the UK’s largest mixed-use developments outside of London.
Originally serving as Royal Mail's sorting office and covering the entire Midlands, the mixed-use development has since transformed into a prominent retail and office space.
Dan Boakes MD of debt capital markets at Martley, said Leumi’s credit approval completed in under three weeks.
‘The Mailbox in Birmingham is a key cornerstone of our portfolio, and we needed a lender who could not only navigate the complexities of this deal but exceed our expectations. Leumi UK demonstrated exceptional agility and efficiency. The speed and precision with which the team delivered, completing full credit approval in under three weeks, were commendable.’
Leumi’s relationship director, Oliver Stenning, said the deal required an ‘entrepreneurial approach’ and showed its conviction to backing buildings with strong fundamentals and sponsorship, regardless of the asset class.
