London
Bridging Finance
- Loan
- £8,250,000
- LTV
- 75%
- Product:
- Bridging Finance
- Borrower Type:
- Investor
Mortimer Street Capital secured an £8.25m bridging facility enabling the acquisition and repositioning of a £11m portfolio of London residential assets held across three newly formed SPVs.
The funding was a series of complex portfolio transactions, with the assets transferred out of an existing complex ownership structure which were part of a divorce settlement, into new SPVs for a single client.
A 12-month bridging finance facility was given, with a gifted equity as the deposit, alongside a £900,000 day 1 capital release to fund refurbishment works to drive rental and support stabilisation ahead of refinance. The portfolio was income producing at completion.
