Martin’s Properties announced today the completion of a £33m long term senior debt financing package with Canada Life Investments. The loan was secured against part of the Martin’s King’s Road estate in Chelsea and was arranged by Laxfield Debt Advisory, the specialist commercial real estate debt advisor.
Martin’s Properties, has been a major investor and contributor to the King’s Road and Chelsea area for the past 60 years. With gilt rates at all-time lows, Martin’s was able to secure stable, mixed maturity finance at favourable rates for the company, matching its long term investment philosophy.
Tom Martin, Managing Director at Martin’s, said “Financing our portfolio on a conservative basis for the long term is in line with our investment objectives, but also allows us to consider further careful expansion. We are delighted to have partnered with Canada Life Investments, a party who shares our long term views. Laxfield were invaluable in guiding us through the process and ensuring the funding structure met our objectives.
Conor Doyle, Business Development Director at Canada Life Investments, said “We are committed to securing long term relationships with high quality borrowers who understand their own market. Martin’s is a committed investor and excellent manager of its estate, and this experience and strong underlying property fundamentals are essential in order to continue lending successfully through uncertain times. We look forward to working with them for the long term."
Emma Huepfl, Principal at Laxfield Debt Advisory, said “There is currently strong interest from long term holders of assets in locking in financing costs. Low gilt rates are bringing forward more of these requirements, and we are well placed to help, with deep knowledge of institutional capital and how to structure these facilities. It has been a real pleasure to work with Martin’s Properties and Canada Life Investments on this transaction."