Post by eeyore on Mar 9, 2023 13:31:37 GMT
New 36-month commercial term loan for Hinkley R*** (PLL1078) has been announced.
Total loan: £1,794,000 LTV: 69%
Tranche A: £1300k @ 7.78% gross (Cap £5k)
Tranche B: £390k @ 9.53% gross (Cap £5k)
Tranche C: £104k @ 11.05% gross (Cap £1k)
The purpose of the loan is to refinance an existing loan.
The security is a repurposed supermarket & car park in Leicestershire, now subdivided into three retail units. All three units are tenanted with long-term leases.
The exit strategy is to sell the property to take a profit or to refinace the loan.
See the full loan request and valuation report for details which are available on the website.
Allocation of TrancheA for Always-On lenders has already taken place (Thursday 9-Mar).
Tranches A, B & C will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Friday 10-Mar.
Update: This loan was drawn down on 28-Mar and will mature on 28-Mar-2026.
Update 13-Mar-2024: The loan has been repaid in full
Total loan: £1,794,000 LTV: 69%
Tranche A: £1300k @ 7.78% gross (Cap £5k)
Tranche B: £390k @ 9.53% gross (Cap £5k)
Tranche C: £104k @ 11.05% gross (Cap £1k)
The purpose of the loan is to refinance an existing loan.
The security is a repurposed supermarket & car park in Leicestershire, now subdivided into three retail units. All three units are tenanted with long-term leases.
The exit strategy is to sell the property to take a profit or to refinace the loan.
See the full loan request and valuation report for details which are available on the website.
Allocation of TrancheA for Always-On lenders has already taken place (Thursday 9-Mar).
Tranches A, B & C will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Friday 10-Mar.
Update: This loan was drawn down on 28-Mar and will mature on 28-Mar-2026.
Update 13-Mar-2024: The loan has been repaid in full
