PADLOCK PARTNERS UK FUND II ANNOUNCES CLOSING OF UK DEBT FINANCING & More News Here

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TORONTO, June 7, 2022 /CNW/ – Padlock Partners UK Fund II (the “Trust”) introduced at present that it has closed a £16,015,750.65 Senior Secured Term Loan Facility (the “Facility”). The Facility is solely secured by a primary, fastened authorized mortgage over the properties. The Facility features a fastened rate of interest of 9.3% each year and a 2 yr maturity, prepayable instantly with no penalty.  An preliminary drawdown of £3,868,710.91 was used to fund the present improvement and dealing capital necessities of the Trust. Further drawdowns might be used to supply funding for future improvement and extra acquisition(s). The Loan was organized by Rhodius Partners in London.

“The Facility enables us to leverage the existing portfolio of three assets to provide resources for the continued development work planned at Brentwood and other existing self-storage sites and for potential further acquisitions.” stated Padlock Partners UK Fund II CEO, John Stevenson.

About Padlock Partners UK Fund II

The Trust is an unincorporated funding belief and was established for the first function of investing in a diversified portfolio of earnings producing business actual property properties within the United Kingdom with a concentrate on self-storage and mixed-use properties. Currently, the Trust has acquired two working self-storage properties in Huntingdon and Newmarket and one conversion property in Brentwood which is because of start fit-out work imminently.

Forward-looking Statements

This information launch comprises statements that embrace forward-looking info inside the which means of Canadian securities legal guidelines. These forward-looking statements replicate the present expectations of the Trust relating to future occasions, together with statements in regards to the Trust’s plans for sure Properties. In some instances, forward-looking statements may be recognized by phrases reminiscent of “may”, “might”, “will”, “could”, “should”, “would”, “occur”, “expect”, “plan”, “anticipate”, “approximate”, “believe”, “intend”, “seek”, “aim”, “estimate”, “target”, “project”, “predict”, “forecast”, “potential”, “continue”, “likely”, “schedule”, or the adverse thereof or different comparable expressions regarding issues that aren’t historic info.

Material components and assumptions utilized by administration of the Trust to develop the forward-looking info embrace, however aren’t restricted to, the Trust’s present expectations about: the event and match out of properties; the event timeline; the supply of debt financing; the capital construction of the Trust; the worldwide and United Kingdom financial surroundings; overseas foreign money alternate charges; and governmental rules or tax legal guidelines. While administration considers these assumptions to be cheap primarily based on presently out there info, they might show to be incorrect.

Although administration believes the expectations mirrored in such forward-looking statements are cheap and symbolize the Trust’s inner projections, expectations and beliefs right now, such statements contain recognized and unknown dangers and uncertainties which may be normal or particular and which give rise to the chance that expectations, forecasts, predictions, projections or conclusions is not going to show to be correct, that assumptions is probably not appropriate and that aims, strategic targets and priorities is probably not achieved. Quite a lot of components, a lot of that are past the Trust’s management, might trigger precise leads to future durations to vary materially from present expectations of estimated or anticipated occasions or outcomes expressed or implied by such forward-looking statements. Readers are cautioned towards inserting undue reliance on forward-looking statements. Except as required by relevant Canadian securities legal guidelines, the Trust undertakes no obligation to replace or revise publicly any forward-looking statements, whether or not because of new info, future occasions or in any other case, after the date on which the statements are made or to replicate the incidence of unanticipated occasions.

SOURCE Padlock Partners UK Fund II

For additional info: For additional info, contact: John Stevenson, Chief Executive Officer, Padlock Partners UK Fund II, [email protected]; Matthew Collins, Chief Financial Officer, Padlock Partners UK Fund II, [email protected]; Contact Telephone Number for Padlock Partners UK Fund II: 602-428-8961

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