Maya Capital said it has secured a £90m loan from GIC to help fund acquisitions in areas outside London and the M25 that have enjoyed a resurgence in activity thanks to the improvement economy and a rise in employment.
Its so-called regional strategy plan is already backed by independent financial firm GWM Capital Advisors, and has completed five deals completed to date including five in Cardiff, Newcastle, and Swansea.
It also announced a sixth deal yesterday after buying an office block called Highdown House in Worthing for £6.5m at a net initial yield of 10.25 per cent.
Maya and GWM said they have committed a total of £50m to this strategy since its launch earlier this year.
David Pralong, Managing Partner of Maya Capital, said: “The fact that we have received financing from such a high profile and internationally respected financial institution such as GIC will allow us to continue to pursue our strategy."
“We are pleased with the acquisition of Worthing which proves our continuing ability to source attractive deals and transact on them quickly. With the loan commitment from GIC alongside the remaining capital from our original investor GWM Group, we have substantial firepower to add to our fast growing portfolio of regional office assets.”