“At UTB we always aim to build strong, long-term relationships with our customers and introducers, and I’m proud to say that UTB’s Structured Property Finance team has supported various Rivers Birtwell projects and funding requirements for the best part of a decade”
– Alex Tyrwhitt – UTB
United Trust Bank (UTB) Structured Property Finance has completed a £25m structured refinance and investment facility for long-term client Rivers Birtwell Limited, supporting the company’s large HMO and student-let portfolio.
Founded in 2013 by George Birtwell and Oliver Dorman, Rivers Birtwell aims to improve student and shared housing across the UK. Both founders, with over 15 years of investment and development experience, started the business after witnessing poor-quality housing in Brighton. Their mission is to design, build, and manage market-leading accommodation for students and young professionals, providing an exceptional living experience.
Deal overview:
Loan amount: £25m
Security value: £33m
Loan type: Structured Refinance and Investment Facility
Term: 36 months
UTB’s Steve Dias, senior relationship manager – structured property finance, was approached by Tom Robinson, director of Bircroft Private, who has facilitated Rivers Birtwell’s relationship with UTB since 2018. This facility refinances and simplifies the company’s existing debt structure, releases equity, and sets aside undrawn limits for future acquisitions and refurbishments.
The security covers a complex mix of over 30 properties, each with between 5 and 9 bedrooms, valued at approximately £33m. UTB worked closely with Robinson through valuations and complex due diligence to agree the £25m facility, enabling Rivers Birtwell to continue pursuing its strategic growth objectives.
Oliver Dorman, group CEO of Rivers Birtwell, commented, “UTB have been pivotal in the growth of our business over the past 10 years. Their ability to tailor a facility that meets our specific needs and supports the continued growth of our portfolio has been unique. This has come from a willingness to truly understand both the opportunities and the challenges our business presents. We look forward to continuing this relationship in the future.”
Tom Robinson, director of Bircroft Private, added, “To facilitate the continued growth of the Rivers Birtwell business, the importance of a funding partner that understands the needs and aspirations of the borrower is key. Having successfully grown together over the last decade from the very first loan of only £250k to now locking in a £25m structured facility is a big moment, but is by no means the end of the story.”
Alex Tyrwhitt, director – structured property solutions, United Trust Bank, commented, “At UTB we always aim to build strong, long-term relationships with our customers and introducers, and I’m proud to say that UTB’s Structured Property Finance team has supported various Rivers Birtwell projects and funding requirements for the best part of a decade.”
“I am delighted to have completed this new £25m facility which will help the business continue to thrive. It was a pleasure to work with Tom, George, Oliver, and the Rivers Birtwell team, and I look forward to many more successful deals in the future.”
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