A joint venture between investment and asset manager Oxenwood Real Estate and reinsurance firm Catalina Holdings (Bermuda) has secured a £53 mln (€63 mln) funding package from NatWest which will be used to re-finance a portfolio of five assets across the UK – including four industrial properties and one commercial office space.
The funding from NatWest comes as part of a long-standing relationship between the bank, Oxenwood and Catalina. Since the firm was established in 2014, Oxenwood has acquired three portfolios together with Catalina.
Tom Boardman, Chief Financial Officer at Oxenwood, said: ‘We were very pleased to secure a term-loan package to refinance the existing portfolio that we had built up on behalf of our Joint Venture with Catalina, as well as to accelerate our pipeline of acquisitions across the country.’
Robert Fardon, real estate finance director at NatWest Group, said: ‘NatWest has enjoyed a long-standing relationship with Oxenwood and Catalina and this re-financing structure will prime the firm for its new chapter of growth. Using our on-the-ground knowledge and catalogue of experience across the real estate sector, we have been able to confidently advise on the best funding package for its ambitious new business and acquisition pipeline.’
