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LendInvest completes €13.8 million property loan with Merseyside Pension Fund

LendInvest has partnered with Merseyside Pension Fund to finance a loan secured against a development site in Canary Wharf. The €13.8 million (£12 million) deal was originated and underwritten by LendInvest and syndicated with Merseyside Pension Fund. LendInvest and Merseyside Pension Fund are equal partners on the deal and LendInvest will act as security trustee and loan servicer.
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The loan was made to an established property development company to finance the purchase of a strategic development site in London's Docklands. The borrower is seeking planning consent to build a 320 bedroom budget hotel and 199 residential units and a decision is expected during 2017.

Chris Shorrock of CBRE Capital Advisors, the Strategic Advisor to MPF, added: „At the current time we believe that investing into the property debt space provides attractive relative returns compared to direct equity property investments. Having an allocation for debt funding in the property portfolio should assist us in outperforming the Fund's IPD Benchmark. We are pleased to have undertaken our first debt syndication with LendInvest and it demonstrates that alternative lenders and institutional investors can team up to achieve attractive returns for their investors.“

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