Maia Real Estate Group has secured a five-year £7.3m investment property loan from Secure Trust Bank (STB) Real Estate Finance to invest in seven apartment developments across Cheltenham and London.
Active in multiple categories of real estate, Maia Real Estate Group's core focus is on multi-residential assets in the UK. Maia acquired a portfolio of six Georgian-style apartment blocks in Cheltenham comprising a total of 68 units, as well as a triple-fronted Victorian-style property in Balham in the south of London.
These acquisitions underpinned the loan secured by the group from Secure Trust Bank, which will be used to replenish equity that funded the two acquisitions. Maia plans to redeploy this equity as the business sets its sights on delivering on its growth agenda by purchasing more UK real estate.
On the properties themselves, the Balham property is an assortment of beautiful 3-bedroom apartments. The Cheltenham properties meanwhile include a Grade II listed building constructed in the 1800s during the 'Regency' period, offering classic architectural details like tall windows, iron-wrought railings and verandas and extruded pillared entrances.
The transaction, which has a LTV of 60%, was orchestrated by Matthew-Blaine Young, Head of Origination at Secure Trust Bank, and Viren Lala and Ola Okuwobi-Dabiri, Managing Partners at Maia Real Estate Group. The parties were introduced to each other through Stuart Bradney from Carbon Financial Consultants, who brokered the deal.
On the transaction, Okuwobi-Dabiri said:
"As we look to grow our business in the UK it is important for us to build long term relationships with reliable funding partners. We found Matthew-Blaine and the broader Secure Trust Bank team collaborative and pragmatic in their approach. We hope to continue to work together as we look ahead to new projects."
Lala added: "Secure Trust Bank's backing is an endorsement of our project and marks a significant milestone in the growth of our UK business. We'd also like to thank Stuart Bradney at Carbon - without his support, this deal may not have happened and the many calls and intermediating between the bank and Maia was vital to progressing the transaction."
On Carbon's involvement, Bradney said: "It's been a pleasure working with Maia and Secure Trust Bank. We've known STB for several years and often reach out to them, when these more complex deals come round as the relationship directors at the bank are all so knowledgeable about real estate. This expertise goes a long way in these transactions which we don't tend to get from many other lenders."
Commenting on the investment, Young said: "When Maia approached us for funding, we knew instantly that these would be great portfolios to support them with. We have worked closely with the Maia team over the past few months, and they have proven to be a highly capable partner with a deep understanding of the market. The transaction was facilitated quickly to enable Maia to progress with the projects as soon as possible while also allowing them to expand and acquire more real estate as they grow."
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