Barclays corporate supports Glasshouse Group
Barclays Corporate has provided property investment facilities of £7.5m to a new client Glasshouse Group Limited.
Based in Bury St Edmunds, Suffolk, Glasshouse Group Limited is a Property Investor with assets across London's vibrant Hoxton and Shoreditch district as well as in Fulham.
The company has been established for 20 years and has, in the past, built a number of the properties that now make up the successful investment portfolio.
Barclays Corporate worked closely with the client to understand the various assets to be funded and the specific markets where they are located. Furthermore, the experience of the Glasshouse management team, where directors Danny Bixer and David Nicholson have been involved since inception, was a major factor in Barclays Corporate's desire to become involved.
The loan will allow Glasshouse to refinance another lender and to place their corporate finances on a sound footing for the next five years. Both the directors of Glasshouse and Barclays Corporate are keen to expand this relationship in the years ahead.
Danny Bixer, director, Glasshouse Group Limited said: “We approached Barclays Corporate and some other potential funders very early, conscious of the challenges that continue to be faced in the banking markets.
“The response from Barclays was positive, constructive and swift and we quickly decided that they would be our chosen finance partner. We were really pleased that they delivered on their promises.”
Stephen Younger, relationship director, Barclays Corporate Real Estate, said: “It was a pleasure to deal with the Glasshouse team as they consistently demonstrated integrity as well as a commercial understanding of debt financing in the new world.
“We worked closely with the directors and our professional advisers to fully understand the investment portfolio and we were delighted to secure the business late in 2010.”