Mixed-Use Acquisition Bridge
Key Information
Loan Amount
£7,400,000
Type of Investment
Mixed-Use Acquisition Bridge
Asset Class
Office & Retail
Location
Essex
Borrower
Offshore limited Compnay
We were introduced to an overseas investor who had exchanged on an asset which comprised of income producing retail on the ground floor and c.60,000 sqft of vacant office space, with outline planning for c.80 residential units.
They had negotiated a discounted purchase price and were looking to raise the full acquisition cost whilst completing the transaction within an extremely tight timeframe.
We immediately targeted and engaged with a short-term lender who we knew could perform and presented this asset alongside another unencumbered property owned by the borrower.
We were able to arrange a short-term loan secured against both these assets which covered 100% of the purchase price and closed the deal within the deadline required.
