Edwin Coe advises Mount Street Mortgage Servicing on the acquisition of a portfolio of shopping centre loans

Edwin Coe is pleased to announce that it has advised loan servicer Mount Street Mortgage Servicing in connection with the acquisition of Project Mercatus, a portfolio of shopping centre loans, from Natwest.

Mount Street will service the loans on behalf of a consortium, which comprised Attestor Capital, an experienced purchaser of loan portfolios, Ellandi, an experienced asset manager of such properties, and Octane Capital.

The Project Mercatus portfolio comprised debt of over £400 million, and is secured on institutionally owned shopping centres.

Mount Street is a global provider of loan servicing solutions to investors and lenders across a wide range of credit markets.

James Walton, finance partner at Edwin Coe commented “It was a pleasure to work on this transaction with the experienced team at Mount Street, and alongside the lawyers representing the consortium members. This is the first significant acquisition of distressed UK property loans post-Covid, and no doubt there will be further NPL trades to follow, as trading conditions in certain sectors continue to create challenges for lenders.”