A Manchester-headquartered property group has signed a deal worth almost £50m with a lender owned by a US billionaire's investment giant.
Real estate investment and development company MCR Property Group has secured a £48m refinance deal with Zorin Finance.
The three-year facility includes an option to extend and will provide "enhanced liquidity" and enable the company to "unlock further growth opportunities".
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Zorin Finance is majority owned by Avenue Capital Group which is led by billionaire co-founder and CEO Marc Lasry, who used to own the NBA's Milwaukee Bucks basketball team from 2014 to this year.
MCR Property Group was founded by Aneel Mussarat and has offices in Manchester, London, Birmingham and Glasgow.
David Tracey, chief operating officer of MCR Property Group, said: "In an uncertain market place, we need to be incredibly thoughtful and strategic in our approach to borrowing, consolidating debt and freeing up cash, which will allow us to continue to build our portfolio in line with our long term strategy.
"The size and terms of this deal highlights the strength of our position in the marketplace and the confidence in us from Zorin, a long established and reputable finance company.
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"We are thrilled to have successfully secured this loan through the support of Zorin Finance and look forward to further building our relationship with them throughout and beyond the terms of the deal."
Alexander Banbury, lending director at Zorin Finance, added: "It has been a pleasure working with MCR Property Group.
"We look forward to supporting them on this transaction and to building our relationship with the group over the next few years.
"We have been impressed by the diversity of MCR's portfolio which played a crucial role in structuring this deal and demonstrates their ability to successfully navigate multiple sectors of the real estate market."