Evans Management Ltd Group has secured a funding deal worth £175m as part of its continuing growth and development.
The firm is planning a series of projects throughout the UK as part of refinancing package provided by The Royal Bank of Scotland Corporate and Institutional Banking (RBS CIB) and Barclays.
With offices in Leeds and London, the Evans Property Group is a long established private property investor and developer.
The firm is major stakeholder in Leeds and the wider Yorkshire region with assets including Minerva and Capitol House, 1 Park Row and the White Rose Shopping.
The funding will see Evans Management invest in an office refurbishment in Leeds, help with extensions of its interests in the Forest of Dean and Sherwood Forest, as well as the purchase of a Dakota Hotel in Glasgow and build a new hotel in Leeds.
RBS CIB provided £125m and Barclays £50m for the facilities package.
Paul Millington, Financial director at Evans Management, said:
“We are delighted to continue our longstanding relationship with RBS and Barclays and the facility provides a sound platform for growth in an improving real estate market.”
Stuart Heslop Regional Managing Director, Real Estate Finance, said:
“We have supported Evans group from our Leeds office for 40 years and we are delighted to be able to continue to work with them on the back of this refinance.
“Our commitment to the sector is to back the best people in the market and the Evans business is a great example of where we will be supporting investment and development activity across the UK.
“It is key that we have teams on the ground across the country who are close to local market conditions to ensure that we are there to deliver for our clients.”
David Hardcastle, Head of Barclays Real Estate team in the North of England, said:
“The Evans Group has a strong presence in the region and an astute management team and we are confident the wide working relationship both locally and nationally will continue to strengthen with Evans taking full advantage of growth opportunities in the markets they operate in.”