eeyore
Member of DD Central
Posts: 746
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Post by eeyore on Jul 27, 2021 15:52:22 GMT
New 9-month commercial term loan for Liverpool D*** S*** A*** (PLL0981) has been announced.
Total loan: £1,316,250 LTV: 65% Tranche A: £1,012.5k @ 9.52% gross (Cap: £3k) Tranche B: £303.75k @ 11.43% gross (Cap: £2k)
The purpose of the loan is to raise funds to redeem an existing loan from another lender. The security is two properties: - the Liverpool property comprises a former part two/part four storey office building plus basement, currently being converted into a 30-bedroom hotel/aparthotel together with three retail units on the ground floor. - the London property comprises a semi-commercial dwelling split over three storeys with the ground floor occupied by a fast-food shop. The exit strategy is either to sell the properties on completetion and with tenants in place or to refinance with a longer-term loan.
See the full loan request and valuation report for details which are available on the website.
Allocation of TrancheA funds for Always-On lenders will have already taken place (Tuesday 27-July). Funds for Self-Select lenders must be in their cash accounts by 17:30 on Wednesday 28-July and allocation will take place on Thursday 29-July.
Note: This loan was added to the Proplend Pending list in March 2021.
Update: This loan was refinanced by the Liverpool D*** S*** M*** U*** R*** loan on 25-Aug-2022
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Post by uksoul on Jul 29, 2021 11:41:00 GMT
Now fully funded!
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bababill
Member of DD Central
Posts: 525
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Post by bababill on Jul 29, 2021 21:05:29 GMT
Anyone know which loan and when will go live next? I thought l Malvern refinance was going to go live this week but that clearly has not happened.
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Post by uksoul on Jul 29, 2021 23:25:48 GMT
Anyone know which loan and when will go live next? I thought l Malvern refinance was going to go live this week but that clearly has not happened. I contacted Proplend last week and they said Malvern is expected to go live soon.
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Post by overthehill on Jul 30, 2021 9:55:34 GMT
Anyone know which loan and when will go live next? I thought l Malvern refinance was going to go live this week but that clearly has not happened. I contacted Proplend last week and they said Malvern is expected to go live soon.
So should Leamington Spa which I do like. 1500 skilled STEM jobs in a brand new superlab, that can transform an area for decades to come, lucky them.
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Post by uksoul on Jul 30, 2021 10:57:42 GMT
I contacted Proplend last week and they said Malvern is expected to go live soon.
So should Leamington Spa which I do like. 1500 skilled STEM jobs in a brand new superlab, that can transform an area for decades to come, lucky them. LS is on my list too...
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sapphire
Member of DD Central
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Post by sapphire on Aug 25, 2022 12:08:10 GMT
Repaid today with penalty interest after drawdown of the Refinance loan.
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