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Specialist bridging lender Hilco Real Estate Finance has completed a £27.0m loan facility to Gibraltar based investor secured against two prestigious properties in Mayfair and Knightsbridge.
The loan is secured against a block of serviced apartments and a block of high-end residential apartments let on short term tenancies.
The borrower is owned by a very experienced real estate entrepreneur who is seeking to optimise the operating performance of these excellently located assets.
The deal was particularly complex as the assets have been held in offshore entities and were acquired out of receivership following the passing of the majority shareholder.
Charlie Job, associate at HREF, said: “This complicated transaction underlines HREF’s ability to work through complex circumstances, providing flexibility and support to borrowers with their transitional financing requirements.”
The property valuations for the transaction were undertaken by Knight Frank, and legal due diligence was provided by Trowers & Hamlin in London.
Call Trinity Specialist Finance to secure hotel finance or funds to refinance serviced apartments on 020 7016 6151 or book a consultation
The information contained within was correct at the time of publication but is subject to change.
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