17 March 2020
Refinancing of Oranim Group project consisting of 83 flats across two residential blocks in Canada Water to take place over five-year term
London: Leumi UK, the London-based subsidiary of Israel’s leading international bank, has closed a £27.5 million deal with property developer Oranim Group to refinance Woodland Views, two residential blocks located at 20-22 Quebec Way.
Woodland Views represents Oranim Group’s most recent investment in the UK and demonstrates its commitment to the UK property market.
Andy Mallin, CBO at Leumi UK, says: “This new deal is the first to follow a series of strategic changes across our Property Finance business line and marks a significant step forward for the team. We’re thrilled to have kicked off 2020 with such a promising deal and look forward to many more to follow as we grow our activity in various areas within the UK property sector.”
Gez O’Sullivan, Relationship Manager, Property Finance, adds: “This is a high-spec property with a developer who is well-known to the Leumi Group, but new to our team in the UK. Oranim is a renowned Israel-based development group with an impeccable 40-year track record in high-end residential mixed use and hotel developments. They are a strong relationship client of our parent group and we look forward to further collaboration moving forward.”
Menachem Oren, CEO of Oranim Group, comments: “This is the first time we have worked with Leumi UK and I was highly impressed by the pace of the service. The turnaround from when the request was submitted to when we actually received the credit was very quick. The Woodland Views project is an important part of our portfolio and we are delighted we now have a trusted partner that we can turn to on similar deals in the area moving forward.”
With a well-established reputation in a range of construction and investment projects, Leumi UK’s Property Finance department takes pride in its close relationships with developers and investors to facilitate both the construction and refinancing of residential, mixed-use and commercial property, student accommodation, care homes and retirement living projects. The team has a particular willingness to fund modular methods of construction, with a focus on providing affordable housing for the local community.
For further information, please contact:
Charlotte Toon, Moorgate-Finn Partners +44 (0) 20 7655 1710
Note to editors:
About Menachem Oren and Oranim Group
Menachem Oren is an Israel-based developer that has been specialising in high-end apartments, hotels and commercial units for more than 40 years. Menachem Oren is UBO of Oranim Group, a property development company established in 1978 to develop high-end residential and mixed use schemes in Israel.
About Leumi (UK) and Leumi Group
Leumi (UK) is a UK-regulated bank offering a wide range of corporate and commercial banking services to both UK based and international clients. An integral part of the Leumi Group founded in London in 1902, the Bank operates through its Head Office in London and its award-winning Asset Based Lender subsidiary, Leumi ABL in Brighton. Activities include commercial finance, trade finance, with a particular expertise in financing cross border trading, commodity finance, financing Israeli related business, property finance and hotel finance. The Bank serves its clients with deposit accounts, hedging and foreign exchange capabilities.
Leumi (UK) is a subsidiary of the Leumi Group, one of Israel’s largest banking groups and a reputable global banking institution. The Group operates over 220 branches across Israel, alongside offices in key financial centres worldwide. The Group offers a comprehensive range of specialised financial services.
Bank Leumi (UK) plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.