Mera completes £11m bridging facility on prime London property

The bridging facility was used to repay the existing lender and allow the borrower time to market the asset and achieve best value.

The detached villa, located close to the £61.5m mansion recently sold to the Abu Dhabi royal family, has been developed into a five-bedroom home and is expected to be put on the market in the spring.

The borrower was introduced to Mera's CEO Edward Matthews (pictured above) by Sohail Yasin of Springtide Capital.

Edward commented: “We focus on lending in prime locations and this asset, located on one of London's premier roads, was a perfect fit for us.

“We worked closely with the borrower and Springtide Capital to tailor the facility and ensure it worked well for all parties."

“This case demonstrates our specific area of expertise, and that Mera is becoming a byword for high quality, prime real estate lending.”

Sohail stated: “There were a number of hurdles that had to be overcome, but the team at Mera were commercial and pragmatic throughout the entire process to ensure the successful completion.”
 
With two new funding lines, announced in November, Mera Investment Management has committed to investing £100m into the prime, high value property sector within the next 12 months.