LEEDS-BASED property company, Blackshaw Holdings, has refinanced its 500-unit strong property portfolio with a £15m funding agreement.
The three-year agreement with Lloyds Bank will be used to partly refinance an existing loan agreement, with the remainder satisfied by selling some assets.
Blackshaw, which was set-up in 1979 by Associated Waste Management founder, John Brooksbank, has a portfolio has a mix of commercial, residential, mixed use and leisure properties across Yorkshire.
Mr Brooksbank said: “This is an important agreement for our business. We have streamlined our debt position and also our portfolio which together has given us much greater flexibility for the future.
“Lloyds Bank’s team worked hard to structure a deal that has allowed us to exit our legacy commitments and establish a platform for renewed growth and investment.”
Tom Cross, relationship director, Lloyds Bank’s commercial real estate team, added: “Blackshaw is one of Yorkshire’s major private property groups with a sizeable and diverse portfolio.
“We’re pleased to support this important landlord that provides affordable housing and commercial space across the region.”
Lloyds Bank legal support was provided by Squire Patton Boggs and Sanderson Weatherall acted on valuation. Walker Morris and Gordons provided legal advice on the deal for Blackshaw Properties and Matt Warrilow of PwC acted as its debt advisor.
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