Barclays in £76m deal for Harwood

BARCLAYS’ corporate banking team in Edinburgh has arranged a £76 million loan for Harwood Real Estate to allow it to buy a portfolio of 41 properties.

Harwood was spun out from JO Hambro Capital Management in 2011, two years after teaming up with Royal Bank of Scotland to buy a £52m portfolio of office and industrial assets from Irish investors Patrick and Hugh Hegarty’s WG Mitchell, which had fallen into administration.

Jonathan Whittingham, director at Harwood Real Estate, said: “This funding has allowed us to develop our core business plan and illustrates our strength in the market. We have an ambitious growth strategy.”

Harwood did not reveal where the latest 41 properties are located.

The deal is the latest in a string for Barclays’ team in Edinburgh, which has secured finance agreements for Chris Stewart Group, Drum Property Group and North Lanarkshire Council.