Brightstar Boys bang on target with £17m bridge

Brightstar Boys bang on target with £17m bridge




England's footballing flops may have struggled to find the back of the net in steamy South America, but the UK's leading specialist distributor has certainly hit target with a stunning....

 

England's footballing flops may have struggled to find the back of the net in steamy South America, but the UK's leading specialist distributor has certainly hit target with a stunning multi-million pound bridging deal…

 

Award-winning Brightstar Financial has combined with Omni Capital, the CPC Group-owned prime real estate lender, to complete a substantial short-term funding facility for a professional designer client.

 

Valued at £17,126,000, the loan is secured against two prestigious high-end addresses in London's glitzy Knightsbridge and a third property in Notting Hill, home to A-List celebrities and well-heeled financiers.

 

On behalf of the client and its introducer, Brightstar approached Omni Capital to provide a large-quantum holding facility, sufficient to refinance an existing bridge held with another well-known specialist lender, and to raise capital to develop the Notting Hill property.

 

Completed in good time, and with no offshore corporate entities involved, Omni Capital's funding is provided over a period of 12 months and at a loan-to-value of 75 per cent. Interest is rolled-up monthly, as opposed to being retained within the LTV.

 

Brightstar confirmed that it chose Omni Capital because of the lender's unrivalled in-house prime property development expertise and ability to structure complex transactions.

 

Rob Jupp, Chief Executive Officer, said: "There are very few people in the UK short-term market who have the experience and capability to lend against this quantum but Omni Capital delivered."

 

For Omni Capital, CEO Colin Sanders added: "The call from Brightstar is one we always welcome. They're at the top of their game, and take the time to construct propositions in a way that lenders can readily evaluate.

 

"In this particular case," he continued, "we were presented with an exciting but highly realistic development proposition we understood and liked. Our senior team of experts personally met with the client and their advisers on more than one occasion and quickly pulled-together a finance package that satisfied all parties.

"Exhibiting their usual high standard of professionalism throughout, it's no surprise to Omni Capital that the Brightstar Boys continue to set the pace for others to follow."

 

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