The Ethical Property Company (EPC) has received a £26.5 million loan facility from Triodos Bank. The facility provides a mix of term and revolving facilities, which refinance EPC’s existing facilities with Triodos and will help fund the company’s future growth, and short-term finance which helped support the acquisition of the company’s new flagship building in London.
Headquartered in Oxford, EPC is a social business that manages commercial property and supports the work of some of the UK’s most dynamic and influential charities and not-for-profit organisations. With more than 20 owned and managed centres across England, Scotland and Wales, it provides office, event and retail space and IT support to over 1,000 organisations each year. It has also recently sold its largest building in Old Street, London for £37.4 million, and will be investing the proceeds in a new flagship building in Bethnal Green, London, which was purchased in May 2016.
EPC was advised on its re-financing by a Penningtons Manches team led by corporate partner James Went with senior associate John Chater. James commented: “It’s been a pleasure to work with EPC as the business is such a great example of working for profit with a purpose.”
Susan Ralphs, EPC’s managing director, said: “We’d like to thank the Penningtons Manches team for their very prompt, astute advice which has been enormously helpful.”
Triodos Bank, a leading expert in sustainable banking for over 30 years, has supported EPC since its early days. Triodos finances companies, institutions and projects that add cultural value and benefit people and the environment.