103259 - £16m loan against multiple assets in Leeds

103259 - Four loans, totalling £16,000,000, across multiple assets for one borrower against a residential block and student accommodation.

Loan amount: £16,000,000

LTV: 70%

Term: 6 months 

Security: 1st charge 

Product type: Residential block and student accommodation

TAB completed a £16 million first charge bridging loan for a borrower who has a strong history of property investments. This loan is secured against a residential block and student accommodation located in Leeds.

The borrower, a seasoned property investor with an extensive property portfolio, faced tight deadlines due to the end of their existing lenders' terms. TAB acted swiftly to meet the borrower's timeframe, ensuring their financing needs were fulfilled promptly, something unique for this deal was that TAB had to refinance two separate lenders simultaneously on the same day. 

To exit the loan, the borrower plans to lease the building to tenants and subsequently refinance onto a long-term debt arrangement. 

This article is for information only and does not constitute advice or a personal recommendation. As with any investment your capital is at risk and you should seek advice concerning suitability from your investment adviser.

 

View the press release here. 

This was a difficult and complex deal. With mainstream lenders out of the equation, we knew that this called for the expertise of a specialist finance provider. When we search for a finance facility, we look for a deal that works for all the parties, and a lender partner with whom we can collaborate. We found that with TAB. The team impressed us not only with their speed and professionalism but also their tech and their commitment to transparency. TAB went the extra mile to help us structure the debt on behalf of our client, even in these challenging circumstances and we look forward to working with them again in the future. Edward Horn-Smith, Managing Director at Arc & Co

While the ultimate borrower is a seasoned property investor with a strong history of property investments and an extensive property portfolio, this was a complex deal calling for an innovative and proactive approach. Technically, this facility consists of four loans, totaling £16 million, across multiple assets for one borrower — it’s a credit to Emmanuel Johnson and the team that we got it over the line so swiftly. Nick Russell, Sales Director

This was the first time I had worked with Ed Horn-Smith on a deal. He was professional and extremely knowledgeable. The client was responsive and quick to provide any information requested. It was a fantastic experience working with Arc & Co and the client to get this completed. EJ, Underwriter