Leumi UK agree £66 million refinancing deal to fund acquisition of supermarket portfolio
Posted: 10th March 2023 | Share
Specialist property lender Leumi UK have agreed to a 5-year term loan of £66 million with a global investment manager, headquartered in the USA, for the purpose of refinancing the acquisition of four supermarkets across prime locations in the UK.
Leumi UK was able to execute the deal efficiently, reaching completion on the deal in only 6 weeks post credit approval.
Chris Stallard, Relationship Director at Leumi UK, said: “The UK supermarket sector has demonstrated stability and resilience over the past few years. Despite economic headwinds, in December 2022, take home grocery sales reached a record £12.8 billion with year-on-year growth hitting 9.4 percent. We’re pleased to be working with this flagship client again on another exciting project. At Leumi UK, we pride ourselves on our relationship-driven approach, and so we deeply value opportunities like these which allow us to continue developing strong and trusting relationships with our clients.”
Borrower, General Counsel, said: “Leumi UK not only consistently deliver a high level of knowledge and expertise, but were also able to operate with the flexibility and efficiency to make this deal a success. We’re very pleased with the outcome, and have been impressed with the speed at which Leumi UK was able to deliver this deal, allowing us to operate swiftly and capitalise on the current strength of the market.”