London's Metro Bank secures £18m investment for Charterhouse
Metro Bank has announced today (September 12) it has provided Charterhouse Property Holdings Limited with £18m of funding used to refinance an established portfolio of student and keyworker accommodation.
Established over 20 years ago, the newly named Charterhouse Group focuses on acquiring and extensively renovating various properties and currently lets over 250 units of student and keyworker accommodation in the Hastings area.
Patrick Hanlon, director at Charterhouse, commented: “Charterhouse required a banking partner to assist us with the rationalisation of our mortgage lending for the commercial element of our portfolio.
“Following a strategic review, we agreed terms with Metro Bank to provide an £18m facility, which would encompass all of these properties and simplify our banking structures moving forward.”
The director of real estate finance at Metro Bank, Craig Wilson, concluded: “We’re absolutely delighted to have been able to support Charterhouse with this finance solution.
“Since inception, Charterhouse has built an excellent reputation for providing high-quality accommodation. We look forward to working closely with them and supporting them with future growth aspirations.”
Metro Bank is open seven days a week, 362 days of the year and is based in Holborn, London, employing more than 2,800 colleagues.