Size of property portfolio

£28 million

LTV secured

65%

Saving

£270,000

A portfolio of 30+ residential investment properties across Greater London

Existing lender unable to renew or extend, so new financing was sought

The deal

Assets

  • 30+ London properties

Security

  • First charge over portfolio

Income

  • Rental

Requirements

  • £17 million refinance
  • Lender open to asset sale and replacement

Challenges

  • HMO occupation
  • 30+ properties
  • Held in BVI company

Facility Secured

  • 5 year term
  • 65% LTV
  • Top tier bank

Summary

The directors of a BVI company sought £17 million against their property portfolio to allow them to continue growth through strategic acquisition. The portfolio of 30+ investment properties was based in Greater London and managed consistently through a professional agency.

Existing lenders were unable to extend or renew facilities following a decision to exit the sector. In re-assessing their lending, the directors also wanted a provider able to offer a flexible approach to asset sales and replacement.

A 5 year term, granted with full right of substation (subject to LTV covenant only), included the ability to hold sales proceeds on account for up to 6 months post-sale before reinvestment.

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Colliers International Structured Finance
Second Floor, Weighbridge House, Liberation Place, St.Helier, JE2 3NA, Jersey.

+44 1534 767 600
structuredfinance@colliers.com

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