Just Group refinances Oval Real Estate's Kensington portfolio

UK financial services company Just Group has refinanced a £136 mln (€158.3 mln) loan for Oval Real Estate's "Kensington" portfolio.

R+ Reading - Oval Real Estate

This three-year loan is backed by seven high-quality, fully refurbished Grade A office buildings in major UK cities like London, Reading, Birmingham, and Bristol, totalling 65,496 m2. These properties boast modern amenities, high-quality interiors, and strong ESG features.
This deal, completed in October 2025, was handled internally by Just Group's team, with Moorhall Capital advising Oval Real Estate.
Just Group has ramped up its commercial real estate investments in 2025, having deployed over £250 mln (€290.9 mln) in the first nine months, a £150 mln (€174.5 mln) increase from all of 2024.
Mohamed Tabi, director of Credit and Private Assets at Just Group, added: “At Just we help people achieve a better later life – it’s our purpose and why we exist. Our growing investment in Commercial Real Estate demonstrates our commitment to supporting the spaces and environments that deliver meaningful and positive social impact. Our investment in Oval Real Estate, along with similar initiatives, not only contributes to a more resilient economy but also generate the sustainable, long-term returns that deliver security and peace of mind for our customers."
Vicky Lawton, senior investment manager at Just Group, said: “We were delighted to have worked alongside Oval Real Estate and Moorhall Capital on this transaction. It exemplifies our ability to structure solutions which meet both the requirements of sponsors and support the strategic objectives of our partners. This loan demonstrates Just’s commitment to investing in projects that provide secure, long-term income to pay our policyholders and deliver lasting value for our stakeholders, while supporting the UK’s productive finance agenda."
Rikki Lewis, head of Transactions at Oval Real Estate, added: “This refinance reinforces Oval Real Estate’s ongoing commitment to investing in high-quality office assets across key UK cities. Partnering with Just Group for the first time, their collaborative and commercially focused approach played an important role in the successful execution of the transaction.”
Rob Jones, principal at Moorhall Capital, added: “We are pleased to have advised Oval Real Estate on this refinancing and to have introduced Just Group as a new lending partner. Oval’s track record of repositioning and managing best-in-class office assets across key UK cities continues to set a benchmark for quality and performance in the office market. Just’s pragmatic approach, speed of execution and conviction in the UK’s commercial real estate sector were instrumental in achieving a successful outcome for all parties.”