Prime West End
Oxford Street office
3 weeks to completion
175 bps over BoE
A UK Family Office were offered an attractive off-market Prime West End London acquisition
but completion had to be within 3 weeks
- Oxford Street office valued at £45m
- First charge over asset
- Rental, multiple tenants
- £15m acquisition finance
- Extremely tight deadline to completion
- 3 year term
- Interest only facility, 34% LTV
- Clearing bank
A UK Family Office were investing in Prime West End London. They had been presented with an attractive off-market opportunity on the proviso that they could complete within 3 weeks.
We secured attractive terms from 3 providers. An important aspect of the screening was having a high degree of confidence in any lender’s operational and AML processes to facilitate the required time frame.
A 3 year term facility was secured at a 175 bps margin (over BoE) with an arrangement fee of 50 bps and funding was drawn before expiry of the exclusivity period.