Pricoa Mortgage Capital, the commercial mortgage lending business of US-based Prudential Financial, has provided a £32.4 mln (€45 mln) loan to refinance Fizzy Living’s UK Private Rented Sector portfolio.

Pricoa Mortgage Capital, the commercial mortgage lending business of US-based Prudential Financial, has provided a £32.4 mln (€45 mln) loan to refinance Fizzy Living’s UK Private Rented Sector portfolio.

The 10-year, fixed-rate loan is secured by four PRS properties totalling 246 units and located in Stepney Green, Canning Town, Poplar and Epsom in Greater London.

'We look forward to seeing more opportunities like this one and to the expansion of our relationship with Fizzy Living over the coming years,' said Aaron Knight, a director with Pricoa Mortgage Capital.

Drew Abernethy, head of European originations for Pricoa Mortgage Capital commented, 'Multi-family is a preferred property type of Pricoa Mortgage Capital's in the US, and we are excited to support the growth of the burgeoning PRS in the UK. For the foreseeable future, our appetite for portfolios like this one is likely to exceed the supply.'