Post by eeyore on Apr 27, 2023 11:45:46 GMT
New 36-month commercial term loan for Newport Pagnell C*** M*** U*** has been announced.
Total loan: £204,050 LTV: 53%
Tranche A: £192.5k @ 7.04% gross
Tranche B: £11.55k @ 8.1% gross
The security is a two-storey building used for offices with extensions used for storage. The site is leased to an operating company owned by the borrowers.
The purpose of the loan is to cover the costs of the refurbishment of the property last year and to fund the installation of a heat-pump system.
The exit strategy is to repay the loan on maturity.
See the full loan request and valuation report for details which are available on the website.
Note: the FLR refers to the borrowers being involved in a previous Proplend loan "Milton Keynes Warehouse" taken out in Feb 2022 and repaid in Feb 2023 - I can find no trace of that loan either in this forum or in my archive.
Allocation of TrancheA for Always-On lenders has already taken place (Thursday 27-Apr).
This post will be updated when details of the availability of Tranches for Self-Select lenders is announced.
Note: It appears that this loan was never available to Self-Select lenders.
This loan was drawn down today (3-May) and will mature on 3-May-2026.
Total loan: £204,050 LTV: 53%
Tranche A: £192.5k @ 7.04% gross
Tranche B: £11.55k @ 8.1% gross
The security is a two-storey building used for offices with extensions used for storage. The site is leased to an operating company owned by the borrowers.
The purpose of the loan is to cover the costs of the refurbishment of the property last year and to fund the installation of a heat-pump system.
The exit strategy is to repay the loan on maturity.
See the full loan request and valuation report for details which are available on the website.
Note: the FLR refers to the borrowers being involved in a previous Proplend loan "Milton Keynes Warehouse" taken out in Feb 2022 and repaid in Feb 2023 - I can find no trace of that loan either in this forum or in my archive.
Allocation of TrancheA for Always-On lenders has already taken place (Thursday 27-Apr).
This post will be updated when details of the availability of Tranches for Self-Select lenders is announced.
Note: It appears that this loan was never available to Self-Select lenders.
This loan was drawn down today (3-May) and will mature on 3-May-2026.
