Stenprop secures new £26.8m loan facility from Lloyds
Source - SMW
Industrial property group Stenprop said it had arranged a new £26.8m senior loan facility with Lloyds.
The facility was secured against the 1.16m square foot MLI portfolio, which the company acquired in December.
It would be used to repay the majority of debt drawn down from the company's revolving credit facility with Investec Bank.
'This new relationship with Lloyds Bank further diversifies our lending base and provides a potential additional source of capital to support our future growth plans in the MLI space,' head of portfolio management James Wakelin said.