Leumi finance helps Livingway expand resi portfolio in the North
Specialist property lender Leumi UK has completed on a £26.53m facility with investor Livingway Group to refinance and expand its residential portfolio across key cities in the north of England.
The package provides £14.8m for refinancing five existing rental assets in Stockport, Manchester, Leeds and Bolton, as well as an £11m loan to support the acquisition of a refurbishment project in Liverpool.
The existing properties are located in areas of high demand and are newly built or recently converted over the past three years.
Specialist property lender Leumi UK has completed on a £26.53m facility with investor Livingway Group to refinance and expand its residential portfolio across key cities in the north of England.
The package provides £14.8m for refinancing five existing rental assets in Stockport, Manchester, Leeds and Bolton, as well as an £11m loan to support the acquisition of a refurbishment project in Liverpool.
The existing properties are located in areas of high demand and are newly built or recently converted over the past three years.
The Liverpool refurbishment will offer 119 flats and will include a gym, screening room, bar, working space, a communal dining area and roof terrace. It will be developed by Livingway and part-funded by Leumi UK through a capex line.
Andrew Boyce, relationship director at Leumi UK, said: “We are looking forward to supporting Livingway Group’s presence in the UK’s underserved rental market. Amid the current economic turbulence, cities in the north of England remain an attractive location for countercyclical investment.
“As house price growth continues to outstrip wage growth and rising interest rates make home ownership unaffordable for many, Livingway is providing an excellent alternative to an undersupplied private rental market.”
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