Gatehouse Bank completes first offshore real estate financing deal
Gatehouse Bank plc (“Gatehouse” or “the Bank”), the London-based investment bank specialising in Shariah-compliant products and services, is pleased to announce the closure of its first offshore real estate financing in St Helier, Jersey. The Bank provided £10 million of senior financing to Apache Capital Partners, for the acquisition of Mourant Ozannes’ HQ offices, a leading offshore law firm.
Apache Capital Partners a niche Real Estate and Private Equity Investment Management Firm was established in 2008 and specialises in investing capital from the Middle East into the UK. Given this client base, the company has offices in both London and Bahrain and currently has an approximate total of £340 million assets under management. This £17.5 million acquisition was for its high income strategy, but Apache is also active in the Social Infrastructure and Private Rented Sectors.
Nick Westoby, Vice President of the Bank’s Real Estate Finance Team, commented: “Given the sound property fundamentals and experience of the team at Apache Capital Partners, we are pleased to have put in place the funding for its acquisition. We hope to further develop this relationship and explore future possibilities with Apache which could add to the healthy pipeline of opportunities currently growing the financing book of Gatehouse Bank.”
Natale Giostra, Head of Real Estate Finance at Gatehouse Bank commented: “We’re delighted to announce the closure of our third real estate financing deal, particularly with it being our first sponsor to specifically require Shariah-compliant finance. This deal highlights the success and competitiveness of the recently formed team and puts us in a strong position for the year ahead.”
John Dunkerley, CEO of Apache Capital Partners, said: “Gatehouse have demonstrated their understanding of Shariah compliant finance, structures and the nature of our Middle Eastern investors. Apache Capital has a substantial investor base and we are actively building our shariah complaint high income strategy. We look forward to building our relationship with Gatehouse Bank in the future.”
Gatehouse Bank has been named Best Investment Bank 2018 at the Global Islamic Finance Awards, in recognition of its successful Real Estate Investment Advisory and Build-to-Rent capabilities.
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Gatehouse Bank has launched its first apprenticeship scheme, with six A level students taking the first step in their career in Financial Services and joining the Shariah-compliant challenger bank.