Aldermore has provided a seven-figure facility to a family investment office to enable it to further grow its commercial property portfolio in Yorkshire.
This is the fourth time that Aldermore has supported Real Estate Investment Group 1 Ltd with the purchase of a commercial investment property in the last 12 months.
The new loan will be used for the acquisition of two retail units on Division Street, Sheffield, which are let as a Sainsbury's Local and an independent coffee chain called 200 Degrees Coffee.
Graham Ritchie, head of commercial mortgages north at Aldermore, said: "It's been a pleasure to work with Mr Banwait again, as he further expands his already established commercial property portfolio across Yorkshire. Mr Banwait has extensive real estate investment experience and our expertise and knowledge in the region meant we were able to work closely with him to provide the funding solution he needed to expand his commercial property portfolio.
"This is another great example of a client continuing to return to Aldermore for investment support and demonstrates the value placed on developing strong relationships."
Harpreet Banwait, manging director of Banwait Group Holdings, added: "Aldermore's funding has continued to support our growth plans in an ongoing challenging economic environment. We look forward to growing this partnership as we work towards exceeding our first major milestone of £100m in Assets Under Ownership within the next two years.
"Real Estate Investments Group 1 Ltd is committed to donating a percentage of its profit to support local, regional, national and international causes and charities through its Making an Impact Fund."
Real Estate Investment Group 1 is a privately-owned family investment office that was established in June 2020 by Harpreet Banwait. It is based in Wakefield.