Tuesday, March 26, 2024
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£11.5m refinancing of converted office block secured for complex ownership structure
Silbury provides additional £33 million loan for 292-home Old Kent Road residential scheme, taking total facility to £101 million
Construction starts on £140m 24-storey Battersea tower
Commercial lenders are increasingly providing multi-million pound mortgages to developers building new housing or refurbishing office blocks. They are also refinancing commercial assets.
Paragon Bank, has agreed to fund a £21.7m scheme in Birmingham which will convert a former industrial site into 111 homes.
Zorin Finance has refinanced a commercial portfolio on a 3-year 60% LTV facility. The £67m portfolio consists of eight investment properties: three industrial assets, four offices and one retail park, with a of nearly 600,000 square feet of commercial space across the UK. The portfolio benefits from both geographic and tenant diversification, with strong occupancy levels.
Aaron Strutt of Trinity Specialist Finance, says: "There are lots of specialist finance lenders out there keen to issue larger commercial mortgages. They prefer lending to companies with a track record of trading and lots of development experience."
ICG Real Estate, the real estate division of ICG, has provided a £100m facility to Salboy to fund the development of a 556 build-to-sell residential scheme in Manchester’s ‘green quarter’ district.
Call Trinity Specialist Finance to secure funding for a development and get a full assessment of the specialist market on 020 7016 6151 or book a consultation
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