Thursday, March 23, 2023

Kexgill Group settles £25m refinance facility with InterBay Bank

Andrew Jackson Solicitors has advised the Hull-based Kexgill Group, one of the largest privately-owned providers of student accommodation in the UK, on a £25m refinance facility with InterBay Bank.

The transaction is a ten-year interest-only commercial investment refinance loan involving the refinancing of 55 residential units at Bradford, Hull, Liverpool, Middlesbrough, Nottingham, and Preston.

Kexgill’s legal advice was provided by a team at Andrew Jackson Solicitors, led by property partner Helen Mellors and supported by Claire Ramsden, Robert Hill, Adrian West, and Ailish Ward in the real estate and property team, as well as Philip Ashworth, Nick Scott, Martin Frost and Benn Shilleto in the corporate team.

Hull-headquartered Kexgill is an award-winning student accommodation provider with a consistent track record of successfully re-investing in its expanding portfolio, as Richard Stott, its MD, explained:“Securing medium term fixed rate debt in a variable market is important for our Group particularly where we are creating scale in locations outside our Hull base. We are delighted that this latest transaction has been stress-free in a market which has seen considerable flux in recent months.

“We are grateful for the help and advice of those involved in this deal, including Andrew Jackson Solicitors, who remain our trusted legal partner and whose expertise in complex matters is essential to help us realise our commercial objectives.”

Helen Mellors  added: “Our client relationship with Kexgill spans several years and it is particularly rewarding to have assisted  Richard and his team on the group’s latest significant transaction, and to support their growth in the affordable student accommodation sector.”

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