The facility will refinance existing debt secured across four properties in St John’s Wood and Hampstead and provide the borrower time to market and sell the assets.
CapitalRise structured a 75% LTV tailored bridging loan with cross-collateralised security and included a part-rolled, part-serviced interest structure to provide the client with flexibility.
The borrowing entity is an offshore SPV based in the British Virgin Islands.
In addition, the sales bridge facility was required to complete simultaneously with another lender, who were providing a specialist BTL facility to refinance the client’s wider portfolio.
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Raf Chowdhury, director at CapitalRise who originated the loan, commented: "We are thrilled to have closed this bridging loan so swiftly, especially considering some of the more challenging factors unique to this particular facility.
“The transaction demonstrates CapitalRise’s commitment and agility to deliver tailored finance solutions for property professionals.
“The properties are high-quality assets in desirable residential locations that will provide liquid and marketable security for our loan.
“We are grateful for the introduction by one of our trusted strategic partners, and we enjoyed collaborating with TLT LLP on the legals.”
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