TAB secures £300m NatWest securitisation facility
Real estate finance and investment platform TAB has secured a private securitisation facility worth up to £300m from NatWest to bolster its bridging and mortgage products.
Atalaya Capital Management provided mezzanine finance for the facility. Last year, Atalaya committed a £120m revolving credit facility to the property investment platform.
TAB has been on a growth spurt of late, expanding its team and launching new products such as a commercial mortgage product which is linked to environmental, social and corporate governance (ESG) metrics.
Borrowers can now apply for commercial mortgage loans of between £150,000 and £2.5m, with terms from three to 10 years and a flexible loan-to-value of up to 65 per cent. They can qualify for discounts of up to 1.25 per cent off a fixed exit fee of 2.5 per cent by satisfying certain ESG criteria.
“Our new funding line marks a monumental moment for TAB,” said Duncan Kreeger, chief executive and founder of TAB.
Read more: TAB launches commercial mortgage product with ESG incentives
“Partnering with an established institution of NatWest’s size is testament to the progress we have made and the confidence in our vision.
“The completion of the private securitisation facility is a strategic move that will significantly enhance our ability to provide more competitive and flexible financing options to our borrowers for both short-term bridging finance and longer-term mortgages.
“The collaboration with NatWest allows us to not only meet the demand for competitive financing solutions but, in relation to the mortgage product, also to contribute to a more sustainable and resilient real estate finance landscape.”
Read more: TAB appoints HR manager ahead of hiring spree
“NatWest is pleased to support TAB both in the bridging space and with its new term mortgage product that encourages ESG-positive behaviour,” said Daniella Siretz, managing director at NatWest.
“Sustainability is a key focus for NatWest and we look forward to a successful and sustainable partnership with TAB.”
TAB has predicted that it will have a loan book of £500m by 2024.
Read more: TAB unveils three new senior hires as it eyes £500m loan book
