In February, Belgravia Property Finance, a boutique debt broker, has seen in a completion of a commercial senior debt refinancing for an Asia based client.
The £24m commercial loan was secured against a mixed-use building in South West London valued at £44m consisting of a leading UK Hotel brand, 40 residential apartments, and six commercial high street units with a large supermarket chain as anchor tenant alongside the Hotel.
The terms secured were at a margin of 2.3% over daily SONIA, at a Loan To Value (LTV) of 55%.
Sam Hoban, Director at Belgravia PF commented: “We were pleased to work with our existing client to secure competitive terms. In this rising interest rate environment, the UK clearing banks being risk-averse struggled to offer competitive terms, with most offering sub 40-45% at higher margins than those secured.”
Belgravia PF who are based in London provide advice and brokerage services to property investors and developers seeking property funding, including development finance, bridging loans, senior and mezzanine finance, at all levels of the capital stack in the UK and Europe.
Belgravia PF, https://www.belgraviapropertyfinance.co.uk can be contacted on 020 7993 8445 or mailto: finance@belgraviapf.co.uk