james21
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Post by james21 on May 31, 2017 20:29:49 GMT
Looking to raise £413k, whats the money being used for and how will it be paid off? is it for creating new capacity?
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rs
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Post by rs on May 31, 2017 21:10:03 GMT
Looking to raise £413k, whats the money being used for and how will it be paid off? is it for creating new capacity?
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rs
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Post by rs on May 31, 2017 21:11:56 GMT
Looking to raise £413k, whats the money being used for and how will it be paid off? is it for creating new capacity? seems like the asset is lock up garages across various sites with a valuation which can easily be not achieved. LTv seems 76% but only if market value is achieved which in the next 2 yrs might not be.
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rs
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Post by rs on May 31, 2017 21:13:04 GMT
seems like the asset is lock up garages across various sites with a valuation which can easily be not achieved. LTv seems 76% but only if market value is achieved which in the next 2 yrs might not be. money is to buy the garages with other participants.
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Post by peerlessperil on May 31, 2017 22:15:56 GMT
Garages count as commercial.
Question is how easy it is to re-finance this stuff (which is the proposed exit). Given it's an off-market transaction with a social housing provider you might have thought there was time to explore the options, and if the performance improvement doesn't come through promptly then you are sitting on a very high LTV.....
The geographic concentration means you flood the local market if you tried to sell at auction so you can only liquidate as a job lot. Hmmmm.
Feels riskier than the last PC deal in MK?
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on May 31, 2017 22:31:33 GMT
The covenant prevents any sale, granting of long leasehold or redevelopment on the R portfolio without council consent. (much more restrictive than the VR implies)
Its already taken at least 6 months for the transaction to go through since the council OK the HA selling
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rs
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Post by rs on Jun 2, 2017 20:46:21 GMT
The covenant prevents any sale, granting of long leasehold or redevelopment on the R portfolio without council consent. (much more restrictive than the VR implies) Its already taken at least 6 months for the transaction to go through since the council OK the HA selling dear PC how is the take up on the lock up garages investment?
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rs
Member of DD Central
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Post by rs on Jun 16, 2017 20:02:11 GMT
I have logged on for the first time in a while now I have cash from repayment. This does not seem to be exciting investors - £119,072 of £413,540 funded. With the Liverpool bond repaid, charles, do you another 12% er coming very soon to keep the money on the platform? i suspect 2 more months to wait for decent new loan.
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