eeyore
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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.
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eeyore
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Post by eeyore on May 2, 2023 17:36:31 GMT
I've yet to see any email about Self-Select for this loan, but it's been transferred to the "Waiting to Close" list saying both tranches are fully funded. What have I missed and when?
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sapphire
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Post by sapphire on May 2, 2023 18:33:26 GMT
I too have not received any Self-select email for this loan.
Looking at the relatively small size, I suspect that Tranche A was fully subscribed by Autolend. Presumably the tiny Tranche B was allocated to some picked/preferred investors?
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liso
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Post by liso on May 2, 2023 18:35:44 GMT
Likewise, no self-select email. And also, as at top of this thread, no note in my records of Milton Keynes Warehouse.
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Post by uksoul on May 2, 2023 21:13:33 GMT
This size of loan will go straight to auto lenders. around 500k and above tends to be open to self selectors nowadays.
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liso
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Post by liso on May 2, 2023 21:21:14 GMT
This size of loan will go straight to auto lenders. around 500k and above tends to be open to self selectors nowadays. And Tranche B?
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Post by uksoul on May 3, 2023 2:47:37 GMT
This size of loan will go straight to auto lenders. around 500k and above tends to be open to self selectors nowadays. And Tranche B? I think this 11k of Tranche B as someone mentioned would have gone straight to a select group.
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