Castleforge has secured a £26.6 million refinancing loan to support its portfolio of nine apartment blocks in the Midlands and northern England. Secure Trust Bank (STB) Real Estate Finance provided the loan, which spans five years. This marks the fourth collaboration between the two firms since 2019.
The portfolio, spread across Leeds, Derby, Preston, Walsall, Cannock, and Leek, has substantially upgraded recently. Renovations have increased the number of lettable rooms from 302 to 543. The assets include diverse properties such as a former mill, converted office buildings, and a Grade II listed former school building.
STB’s involvement in the refinancing deal highlights its deep knowledge of property finance. It supports Castleforge in navigating the complexities of managing multiple properties. This partnership follows a previous deal in which STB provided a £3.9 million loan for the refurbishment of Spring Court in Ipswich.
