PROPERTY investment and management company Bruntwood has agreed a new £200m medium-term funding agreement with a trio of banks.
The company’s two incumbent banks, RBS and HSBC, have been joined by Barclays Real Estate, which has provided an additional £30m to the company.
Bruntwood, which is headquartered in Manchester, has a portfolio of 101 buildings including Mclaren, Kennedy Tower and Cornwall Buildings in Birmingham.
The privately-owned firm employs more than 400 staff and has over 2,000 customers.
Alongside its medium-term loan facility, the company has a £440m commercial mortgaged backed securitisation which was arranged by RBS in 2007 and which is due to expire in 2014.
Banking director Kevin Crotty said: “Bruntwood has always made long-term sustainable growth its priority, rather than short-term commercial gain.
“As a result, it is companies such as ourselves that have emerged from the recession fitter and stronger.
“In a market where many property owners are constrained by excess debt, Bruntwood’s financial strength remains a major advantage.”
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