Leumi and Martley Capital refinance Mercia’s industrial portfolio

Specialist real estate lender Leumi UK and Martley Capital have jointly provided Mercia Real Estate with £63.1 mln (€74.3 mln) to refinance an industrial portfolio across four sites in the Midlands.

Logistics

Leumi UK contributed £44.4 mln (€52.3 mln) in senior loans, while Martley Capital, which introduced the deal, provided an £18.7 mln (€22.0 mln) mezzanine loan. This marks their third collaboration in the past year.
Leumi UK structured the financing with two separate facilities to accommodate different business plans within the portfolio.
A key asset in the portfolio is Telford Business Park, which includes two existing properties and 46 acres of land approved for 86,864 m2 of new industrial space across five units. This refinancing is intended to bridge to the initial development phase at Telford Business Park, a priority for Mercia.
Sam Clark, chief executive at Mercia Real Estate, said: “We really value Leumi UK’s flexibility, their understanding of our objectives, and their commitment to working closely with us to develop a financing solution that will enable us to achieve our goals with these assets, and unlock the clear value we see at Telford Business Park in particular.” 
Tom Tunley, director at Martley Capital Group, commented: “We’re delighted to have worked with Leumi UK and Mercia Real Estate on this refinance. This transaction demonstrates our ability to understand clients’ complex requirements and deliver flexible solutions alongside other relationship-driven lenders.”
Oliver Stenning, relationship director at Leumi UK, added: “We were thrilled to provide a financing solution specifically tailored to Mercia’s business plan for these attractive assets. It is also pleasing to build on our trusted relationship with Martley Capital, in what is our third co-lending deal. We have extensive experience in the industrial sector, and it is clear these conveniently located assets are well placed to deliver value going forward.”