The funding will be used to refinance a Belgravia townhouse which, once renovations are complete, will be valued in excess of £25m.

The borrower, an established client of Century Capital, has substantial assets and financial reserves, but had no provable annual income and no UK presence other than this asset, making regular private bank financing challenging.

The specialist lender structured a new £9m gross facility for the borrower, providing the refinancing of £7m of existing debt, and a further £2m of hybrid development finance/equity release to fund a full internal renovation of the property over a period of 18months.

The property consists of a large freehold townhouse and accompanying leasehold mews house.

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Paul Munford, CEO at Century Capital (pictured above), said: “We were very pleased to make this deal work for our US-based borrower.

“We have worked with this borrower on several transactions, however, this particular transatlantic deal took place during the pandemic with completion on 5th November — just as the US was at the height of the election chaos.

“We managed to complete the deal in under two weeks, which is testament to how Century Capital go above and beyond for our borrowers.”

Luke Navin, head of lending at Century Capital, added: “This was a fantastic deal for Century Capital, as it demonstrated our ability to structure complex deals under serious time constraints, and is testament to the strong relationships we maintain with our borrowers.”