Post by eeyore on Oct 1, 2021 11:56:23 GMT
New 36-month commercial term loan for Northampton C*** M*** U*** (PLL0993) has been announced.
Total loan: £1,200,000 LTV: 41.8%
Tranche A: £1,200k @ 6.5% gross (Cap £3k)
The purpose of the loan is to raise funds for further property acquisitions by the borrower.
The security is the freehold on two buildings on the same site with shared car-parking. The primary building is a repurposed GradeII-listed factory converted to tenanted offices; the second building houses leisure facilities and further office accommodation, mainly tenanted by an associated company of the borrower.
The strategy is to maintain the rental income and eventually to refinance the loan with a longer-term lender.
See the full loan request and valuation report for details which are available on the website.
Allocation of TrancheA funds for Always-On lenders has already taken place (Friday 1-Oct).
The remaining TrancheA will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Monday 4-Oct and allocation will take place on Tuesday 5-Oct.
The loan was drawn down on 27-October and is due to mature on 27-Oct-2024. Eleven days Pre-Draw-Down Interest has been credited to cash accounts (£2.20/£1000 in TrancheA).
Total loan: £1,200,000 LTV: 41.8%
Tranche A: £1,200k @ 6.5% gross (Cap £3k)
The purpose of the loan is to raise funds for further property acquisitions by the borrower.
The security is the freehold on two buildings on the same site with shared car-parking. The primary building is a repurposed GradeII-listed factory converted to tenanted offices; the second building houses leisure facilities and further office accommodation, mainly tenanted by an associated company of the borrower.
The strategy is to maintain the rental income and eventually to refinance the loan with a longer-term lender.
See the full loan request and valuation report for details which are available on the website.
Allocation of TrancheA funds for Always-On lenders has already taken place (Friday 1-Oct).
The remaining TrancheA will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Monday 4-Oct and allocation will take place on Tuesday 5-Oct.
The loan was drawn down on 27-October and is due to mature on 27-Oct-2024. Eleven days Pre-Draw-Down Interest has been credited to cash accounts (£2.20/£1000 in TrancheA).
