Track record

Over 100 super prime projects

Security

£38m of super prime residences

Saving

£600,000

The trust had completed 100+ super prime residential projects in London over a period of 20 years

With £38m of prime London residential to leverage, they sought further lending of £22m

The deal

Assets

  • £38m of super prime London residences

Security

  • First charge over assets

Income

  • Rental

Requirements

  • £22m refinance
  • 60% LTV

Challenges

  • Trophy assets, individual tenants, low yields
  • Void risk post Brexit

Facility Secured

  • 5 year term
  • Interest only

Summary

Trustees sought a commercial lender who understood the super prime London residential market. There was a requirement to support immediate needs, as well as potentially grow the relationship in excess of GBP 100m.

The trust had a track record of more than 20 years, including over 100 super prime residential projects completed in London.

A fully hedged 5 year interest only facility fulfilled requirements, whilst mitigating the risks perceived by the lender around interest rate versus yield. Void risk was mitigated with an interest reserve.

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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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