30 April 2021
Newcore Capital Management, the B Corporation-accredited, social infrastructure investment manager, has secured a £22 million senior debt facility arranged by Rothschild & Co for Newcore Strategic Situations IV LP, its £150 million value-add fund.
The facility, which is for a five-year term, will enable Newcore Strategic Situations IV to finance further acquisitions and capital expenditure, which will conclude the fund’s investment programme.
Newcore was advised by Moorhall Capital and CMS. Rothschild & Co was advised by Clyde & Co.
Neil Sarkhel, COO of Newcore, said: “We are delighted to complete this well-priced, senior debt facility, which reflects the quality of the Newcore Strategic Situations IV fund portfolio and its underlying tenants, notwithstanding the effects of Covid on the wider commercial property market. The facility should enhance returns for the fund and enable us to continue the fund’s investment programme. We look forward to developing a long-term relationship with Rothschild & Co.”