CEG secures £64.5m loan for eight office-led sites

Privately owned investor CEG has secured a £64.5m loan from OakNorth to refinance eight office-led sites. CEG specialises in residential, office, industrial and strategic land. It has a 6m sq ft portfolio valued at £800m. The loan from OakNorth will be used to refinance sites in Nottingham, Birmingham, Manchester, Crewe, Warrington, Glasgow and two in Edinburgh. Gerard Versteegh, founder and chairman of CEG, said “Working closely with the OakNorth team on this transaction was extremely positive. It was clear from our first meeting that they had a strong knowledge of the UK’s commercial real estate market.” Damien Hughes, senior director of property finance at OakNorth, added: “With demand for high-quality office space across the UK continuing to outstrip supply, driven by occupiers seeking the best quality, most sustainable and best located sites, the CEG group is in a perfect position to capitalise on this tailwind.”