Warwick based, IM Properties, has arranged a £33 million facility to part refinance an investment property portfolio, with funding provided by Santander Corporate Banking and managed by the bank's specialist real estate team in Birmingham.

IM Properties, one of the Midlands leading property investment and development companies, has agreed a term loan secured by a portfolio of 8 industrial and office properties located in well known distribution locations, in the West Midlands and South West.

Commenting on the new facility, Mike Adams, Managing Director at IM Properties said: "This agreement secures the company's funding commitments for the foreseeable future and looking forward we are aiming to exploit any future opportunities that the recession will create. The quality of the facilities we offer, and the prime sites we invest in, has resulted in IM Properties attracting new tenants as well as retaining and building long term relationships with existing clients. IM Properties has always taken a prudent financial approach to business and this is proving to be a considerable commercial advantage in the current economic climate.  

"This is our first time we have worked with Santander and we have been very impressed by the time they took to understand our business and aims, and their regional presence and knowledge has been invaluable."

Since its formation in 1987, IM Properties has enjoyed considerable growth and now is one of the largest UK privately owned property companies with investment and development portfolios in Europe and the USA across the industrial, retail and commercial sectors.                                               

The company's development arm continues to build on its enviable reputation for award winning schemes and for achieving highly remunerative rental and freehold deals. A customer focused philosophy through the total process of building design, construction, landscaping, environment and estate management has attracted many blue chip covenants.

Mark Shah, Regional Director, Real Estate Finance, at Santander's regional corporate banking centre in Birmingham said: "I am delighted that we have been able to support IM Properties. As one of the UK's largest privately owned property companies, the Group has a strong balance sheet, good levels of equity and a realistic strategy for growth going forward.

"Santander Corporate Banking is committed to building strong relationships based on an understanding of businesses and their needs, providing solutions and services that fit those needs, and our agreement with IM Properties is an excellent example of this."