Maritime Capital’s ability to structure debt intelligently and manage banking relationships proved vital in a £11 million refinance with C. Hoare & Co.
The transaction involved refinancing a series of existing loans and Lombard facilities that had built up over time through a wider acquisition strategy.
While each facility had served a purpose, the overall position had become fragmented, with different loans sitting across different assets and different repayment or refinance points creating unnecessary complexity.
Maritime’s first task was to rationalise the position.
Rather than allow the client to continue managing multiple facilities across a spread of assets, we advised consolidating the debt into one clear facility, secured against two premium income-producing assets within the portfolio. Both had been fully asset-managed, were producing stable income and had strong capital value.
This careful selection of security was key. By isolating the bank’s exposure against the strongest assets in the portfolio, Maritime created the conditions for C. Hoare & Co. to offer the most attractive terms available.
The refinance also brought strategic clarity. Instead of managing a number of facilities with different expiry points, the client secured a new three-year facility that allowed for more accurate cash flow forecasting and a clearer plan for the portfolio.
This made it easier to assess whether individual assets should be held, further asset managed, sold or used to reduce debt over time.
The transaction also demonstrates the value of private banking relationships in commercial property.
C. Hoare & Co., established in 1672 and owned by the Hoare family for 12 generations, was the natural partner. Maritime has banked with them and arranged facilities for clients over many years, and that history made the process direct from the outset.
Credit decisions come from partners who understand the client's track record, wider financial position, borrowing history and risk appetite, rather than from a remote committee scoring paperwork against a policy matrix.
That matters in refinancing. Commercial property is rarely perfectly linear, and rigid lending decisions can create unnecessary risk. Private banks are often able to make more considered, tailored judgements, particularly where the borrower has a strong history and the asset position is well understood.
During the refinance process, global events caused market pricing to move between offer and drawdown.
This was not a reflection of C. Hoare & Co.’s position or commitment, but a consequence of wider market volatility.
Maritime reviewed the revised fixed-rate position carefully and assessed the available options to ensure the facility remained competitive for the client.
This included going back to the market to test pricing for a cap-and-collar mechanism, but the terms available were not favourable.
Following this analysis, Maritime advised moving from a fixed-rate structure to a variable-rate facility. This gave the client a more competitive outcome in the circumstances.
For Maritime, the key was arranging the right facility, understanding the mechanics behind it, evaluating the alternatives and showing the adaptability needed to make a clear recommendation in the client’s best interests.
The result was a cleaner lending structure, improved visibility over future cash flow and a stronger platform from which to manage the portfolio.
It reflects what Maritime values most in banking partners. Human decision-making, reliable commitments and a relationship that runs both ways.
The right bank holds steady when conditions get choppy, taking a long-term view of the client and the assets behind the loan.
It’s also a clear example of Maritime’s debt expertise in practice: understanding the asset, understanding the lender and structuring a facility that supports the client’s long-term strategy.
