Northern Trust secures new finance deal

Chorley-based property investment, development and land regeneration company Northern Trust has completed a deal to refinance £230m with M&G Investments.

The vast majority of the portfolio is let to SMEs in the UK. The new loan included an acquisition facility giving Northern Trust the ability to purchase new assets.

"SMEs are the backbone of the UK’s economy, employing over 15 million workers, and Northern Trust is experienced in providing premises for businesses to thrive. The real estate portfolio is underpinned by a well-diversified income stream which creates an attractive lending proposition for our clients.”

A spokesperson on behalf of Northern Trust added: “The facility contains the flexibility we require to help the continued expansion of our portfolio through the acquisition of industrial parks and development land.” The whole loan will be invested and held by funds managed by M&G. M&G’s Real Estate Finance team has invested over £6.5bn in commercial mortgages in the UK and Europe and is one of the largest new lenders to emerge since the 2008 financial crisis.