West Midlands Hilco Real Estate Finance provides £24m loan for West Midlands residential PRS acquisition


Specialist bridging lender Hilco Real Estate Finance (HREF) has com- pleted a £24m loan facility to a residential PRS investor to fund the acquisition of two new-build residential blocks in Worcester.


The properties are currently vacant, with one being marketed for lettings whilst the other is being marketed for sale by an unnamed real estate investment group that is building its already significant PRS footprint.


Charlie Job, Vice President at HREF, said: “The acquisition of the two blocks out of receivership was an excellent opportunity for the bor- rower. We were able to provide fast acquisition funding, enabling the borrower to take advantage of the opportunity with certainty of funding and execution.


“Since completing on the acquisition, the scheme is already over 15% let in a matter of days, evidencing the strong underlying residential demand in the area.”


HREF CEO Brad Altberger, who originated the loan commented, “This deal showcases HREF’s unique ability to support our clients by mov- ing quickly in complex situations.


Managing a heavy workload to both resolve matters arising from the distressed purchase of the asset and complete our usual due diligence, under immense time pressure, was a challenge that we rose to with great effect”.


Valuations for the transaction were undertaken by Newmark, for- merly known as Gerald Eve, and legal due diligence was provided by Clarion Solicitors.


The deal follows a recent record month of lending for HREF, that loaned over £200m of its own funds to bridging borrowers in 2024, and almost £44m in February 2025 alone.


Brad Altberger added: “We are seeing increasing demand for lending above £20m in 2025 as our reputation in the UK market grows, and with fewer active property lenders able to make loans up to £100m.


“This deal is a great way to start Q2, after a really active first three months of the year, and we expect to ramp up the levels of lending significantly in 2025.”


HREF was launched in 2023 and provides tailored, flexible property finance nationwide across various real estate sectors and capital structures, offering short term bridging loans for growth, acquisition opportunities, development exits and refinancing exits with loan sizes ranging from £3m to over £100m.


The lender has grown quickly to become one the UK’s most active specialist bridge lenders, placing over £200m of its own funds in 20 deals last year.


HREF recently completed its first deal in Ireland and continues to target growth, aiming to expand its loan book significantly in 2025 across all real estate sectors in the UK.


HREF has offices throughout the UK, comprises a growing team of highly experienced finance professionals, and is a fully integrated subsidiary of Hilco Global (Hilco), the multi-na- tional financial services group with more than $5bn of assets under management.


New starters bolster Vail Williams in Birmingham Solihull business park fully let after SME trio snap up units


Property consultancy Vail Williams has appointed two new starters and welcomed back a former colleague to bolster its Midlands team as business demand expands.


Emma Brooks has been hired as a valuation associate and Joshua Laurence as a graduate surveyor, while Brian Miklasz has rejoined the Birmingham-based firm as an associate rating surveyor. Emma was appointed after more than six years with Midlands property firm Loveitts after eight years at Pennycuick Collins Chartered Surveyors in Birmingham. Emma acts predominantly for banks and other lend- ers to provide valuations for lending purposes, as well as for pension fund, taxation, accounting and statutory matters. She has also repre- sented valuation clients at the First-tier Tribunal (Property Chamber).


Joshua joined after 18 months as a commercial property agent with Maguire Jackson in Birmingham, where he handled major sales and letting disposals, predominantly in the jewellery quarter. At Vail Williams he is responsible for advising landlords and occupiers on commercial freehold and leasehold acquisition and disposal across the Midlands and North. Joshua, who has a degree in property devel- opment and planning from Oxford Brookes, is now working towards his APC to become a RICS chartered surveyor.


Brian, who has rejoined the firm after 18 months as an associate with Cushman & Wakefield in Birmingham, is part of the business rates team. Previously with Vail Williams for nearly six years, he has national experience.


Vail Williams has been based in the Midlands for more than 15 years, during which time the team in Birmingham has tripled in size.


54 COMMERCIAL PROPERTY MONTHLY 2025


A Solihull business park is now at full capacity after three local businesses snapped up the final lease agreements at its light industrial units. The Woodside Industrial Estate in Kingshurst, is now fully let with a wide range of SMEs calling it home after support from Solihull Council.


West Midlands-based commercial property agent Shepherd Commercial was instructed in spring 2024 to bring the site to full occupancy after the council conducted a major busi- ness diagnostics and interior refurbishment.


The development now comprises a wide range of SMEs with AR Quinn electrical contractors, Cameron Construction and CRDH Electrical taking up residence at the three remaining 412 sq ft units.


Businesses at the site benefit from free SME support from Solihull Council, which can include a tailored package that help them grow, adopt digital technologies, transition to new supply chains, and access funding opportunities.


The recent refurbishment is part of a concerted effort from the local authority to provide industrial space for a growing number of small business owners.


The estate provides gated entrances, with allocated parking and a convenient location near the M6 and M42.


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