HREF provides £7.5m against Jersey office assets
By Tara SammonsLender targets further Channel Islands growth
Section: Case Studies
Hilco Real Estate Finance (HREF) has completed a £7.5m bridging loan against two office blocks in Jersey.
The 24-month facility will enable the sale of the assets, which are located adjacent to each other in the Jersey capital St Helier.
Providing a total of 35,722 sq ft (3,319 sq m) of space, the five-storey buildings are currently fully let.
Sean Adams, managing director at HREF, said: “Situations such as this require specific understanding alongside the ability to deliver capital solutions for experienced borrowers.
“Well-located and fully let, we anticipate strong demand from buyers during the sales process and we look forward to seeing the business plan delivered.”
Alexey Shokhin, origination director at HREF, added: “Jersey is a market that we understand well and have considerable experience of through previous loan facilities.
“Our underwrite capabilities cover the full range of real estate assets and we anticipate further business in the Channel Islands in the future.”
Keywords: Hilco Real Estate Finance, HREF bridging loan, Jersey office blocks, St Helier office property, Sean Adams HREF, Alexey Shokhin HREF, Channel Islands property finance, commercial bridging loan, office block refinancing, Jersey commercial property, real estate finance lender, discretionary capital lending