One of the UK’s newest commercial property debt providers has completed its first Scottish deals seven months after launching.
Edinburgh-based Fairfield Real Estate Finance has provided debt refinance packages for two businesses with a combined property value of £31m.
The largest deal is for a £21 million joint commercial property portfolio owned by David Cameron of Aviemore-based Upland Developments and Bruce Linton of James Keiller Estates and includes 46,000 sq ft of retail and office space on Bridge Street, in Inverness.
Also included in the portfolio are the Clydesdale Bank headquarters in Glasgow, as well as other sites in the city and Edinburgh.
Fairfield has also secured a debt package for a new hotel in Glasgow on behalf of the Curo Property Fund LLP. The £10 million property in West Campbell Street is operated as a Hampton by Hilton and opened in May 2016.
The US-backed company said it is committed to an ambitious growth plan which includes increasing its Edinburgh-based staff and providing over £300m of debt funding to new projects by this summer.
Colin Duncan, real estate director at Fairfield, said: “We are in the fortunate position of having the financial backing of Oaktree Capital Management. This gives us the ability to offer something different to the commercial real estate market at the moment.
“We are very comfortable that our first Scottish deals offer good long-term prospects. In the case of David Cameron and Bruce Linton, they are both highly experienced people responsible for a mixed portfolio with multiple tenants and a strong lettings history.”