Secure Trust Bank Real Estate Finance has provided a £35m loan to Gold Wynn Group to refinance the conversion of a former office building above Milton Keynes Central station to a 200-home residential development.
The deal for the three-year residential investment loan for Station House, agreed at 59% LTV, was led by Mike Feasey, relationship director at STB Real Estate Finance, alongside Matthew-Blaine Young, the bank’s head of origination.
BBS Capital advised on and secured the facility for Gold Wynn, continuing its high level of activity in the refinancing space.
Mark Geraghty, director at BBS Capital, said: “This was a notable transaction in the office-to-residential conversion space, demonstrating good liquidity in the marketplace for quality assets with robust business plans and credible sponsorship.
“The structured finance was arranged and executed over a short time frame despite current market conditions, which is testament to all parties involved.”
Photo from Gold Wynn Group
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