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
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
