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Leumi UK lends £18.26 million to Magnetar for retail portfolio acquisition

Posted: 21st January 2025   |   Share

Project Trio

Real estate lender Leumi UK has successfully completed a £18.26 million Senior Term Loan to long-standing client Magnetar to support the acquisition of three retail assets across Loughborough, Kings Lynn, and Dunfermline. The portfolio acquisition targeted dominant town centre retail assets, underpinned by convenience-led offerings and a diverse mix of national and local retailers.

Sponsor Magnetar, founded in 2005, is a highly experienced US-based alternative asset manager with approximately $18.6 billion in assets under management as of 30 September 2024. Leumi UK is proud to further strengthen its relationship with repeat-client Magnetar, through leveraging its extensive track record in successful retail financings. This partnership underscores Leumi UK’s commitment to supporting established sponsors with executing compelling, value-driven opportunities in the commercial real estate sector.

Magnetar is working with specialist operating partner, Northdale Advisors Limited, whose principals have significant experience across all classes of real estate, including retail. Magnetar and Northdale previously partnered on the 2022 purchase of Yate Shopping Centre, One Stop Shopping Perry Barr, Corby Town Centre and the Priory Centre, Dartford.

Aidan McKeown, Portfolio Manager at Magnetar said: “This acquisition is a further milestone in our strategy of investing in dominant, town-centre retail destinations that cater to the everyday needs of their local communities. Each asset possesses strong fundamentals, including high occupancy rates, resilient income streams, and a diverse tenant base. We are grateful for the continued support from Leumi UK, whose sector expertise and flexibility were instrumental in enabling us to efficiently formulate a sound business plan for this investment.”

Anya Stanislawczyk, Portfolio Director, at Leumi UK said: “This portfolio presented a highly compelling financing proposition, on account of each of the respective asset’s quality and dominance within their local catchment, in addition to the significant growth potential identified. It’s always a privilege to have the opportunity to work with a repeat client, and Magnetar has a track record of successful execution which we are proud to support. Furthermore, this deal highlights our confidence in the resilience and long-term value of essential, convenience-led retail assets across the UK.”