eeyore
Member of DD Central
Posts: 744 
Likes: 734
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Post by eeyore on Sept 16, 2023 17:25:39 GMT
New 24-month commercial term loan for Balby I*** Refinance has been formally announced. Current lenders in TrancheA of the existing loan have been invited to roll-over loans into this new refinance loan. Total loan: £1,984,000 LTV: 64% Tranche A: £1,550k @ 9.04% gross Tranche B: £434k @ 11.28% gross (Cap: £2k) The purpose of this loan is to refinance the existing Balby I*** loan at Proplend which was due mature on 20-Jul-2023 (see p2pindependentforum.com/thread/19072/balby-pll1038). The security is a 1.9 hectare site in an industrial park with a series of partially-tenanted industrial units and office accommodation. The strategy is to maintain the property and to maximise rental income. The exit strategy is expected to be a refinance of the loan. See the full loan request and valuation report for details which are available on the website. [Comment: The market value with vacant possession is slightly less than the total loan.]
Update 19-Sep: Following roll-over of loans from the original loan, TrancheA is now fully funded. TrancheB is available, up to a maximum of £2k, to Self-Select lenders - funds for Self-Select lenders must be in their cash accounts by 17:30 on Wednesday 20-Sep.
Update 21-Sep: This refinance loan has been drawn down today and is due to mature on 21-Sep-2025
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Post by Ace on Sept 20, 2023 21:01:58 GMT
Have those that have got a slice of tranche B been notified?
I note that my autolend bid for this loan has disappeared, and the Loan has gone from the in-funding tab. So, I'm assuming that I missed out.
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Post by uksoul on Sept 20, 2023 23:54:53 GMT
Have those that have got a slice of tranche B been notified? I note that my autolend bid for this loan has disappeared, and the Loan has gone from the in-funding tab. So, I'm assuming that I missed out. Notifications being sent out Thurs.
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Post by uksoul on Sept 21, 2023 7:08:21 GMT
Have those that have got a slice of tranche B been notified? I note that my autolend bid for this loan has disappeared, and the Loan has gone from the in-funding tab. So, I'm assuming that I missed out. Notifications sent. I got a slice of B, were you successful?
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Post by Ace on Sept 21, 2023 7:30:19 GMT
Have those that have got a slice of tranche B been notified? I note that my autolend bid for this loan has disappeared, and the Loan has gone from the in-funding tab. So, I'm assuming that I missed out. Notifications sent. I got a slice of B, were you successful? Yes thanks, partially. I got £1k in tranche B of the £2k that I bid for.
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Post by uksoul on Sept 21, 2023 7:40:45 GMT
Notifications sent. I got a slice of B, were you successful? Yes thanks, partially. I got £1k in tranche B of the £2k that I bid for. Ok...I think this loan was heavily subscribed and not many would have got the full 2k.
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Post by gramsky on Sept 21, 2023 12:02:15 GMT
I wouldn't touch tranche B in any loan with a barge pole!
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Post by uksoul on Sept 21, 2023 12:17:49 GMT
I wouldn't touch tranche B in any loan with a barge pole! why not ?
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Post by gramsky on Sept 21, 2023 13:13:11 GMT
I wouldn't touch tranche B in any loan with a barge pole! why not ? Commercial property is fairly high risk especially in the looming recession and tranche A gets paid off first tranche B second.
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Post by uksoul on Sept 21, 2023 13:48:34 GMT
Commercial property is fairly high risk especially in the looming recession and tranche A gets paid off first tranche B second. I primarily invest in B tranches and have had no probs even during CV19 downturn. CP can be high risk but it can give decent returns if you choose the right loan.
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eeyore
Member of DD Central
Posts: 744
Likes: 734
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Post by eeyore on Sept 21, 2023 15:49:45 GMT
Have those that have got a slice of tranche B been notified? I note that my autolend bid for this loan has disappeared, and the Loan has gone from the in-funding tab. So, I'm assuming that I missed out. Notifications being sent out Thurs. I didn't get any email about my bid to roll-over £1k of my Tranche A loan but now that the refinance has been accomplished, it appears that the roll-over was successful for me.
Note: Redditch will be offered for roll-over "at the end of this week"!
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Post by uksoul on Sept 21, 2023 21:32:31 GMT
Notifications being sent out Thurs. I didn't get any email about my bid to roll-over £1k of my Tranche A loan but now that the refinance has been accomplished, it appears that the roll-over was successful for me.
Note: Redditch will be offered for roll-over "at the end of this week"!
Have you checked your junk mail? I guess rollover applicants will be successful with Redditch too due to its' size.
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eeyore
Member of DD Central
Posts: 744
Likes: 734
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Post by eeyore on Sept 21, 2023 21:46:20 GMT
I didn't get any email about my bid to roll-over £1k of my Tranche A loan but now that the refinance has been accomplished, it appears that the roll-over was successful for me.
Note: Redditch will be offered for roll-over "at the end of this week"!
I guess rollover applicants will be successful with Redditch too due to its' size. Empty! Nothing anywhere until the two emails today c16:30 about Balby I*** Refinance draw down and Balby I*** repaid, but by then I'd already spotted the changes in my Portfolio entries earlier this afternoon.
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Post by uksoul on Sept 21, 2023 23:21:05 GMT
Have you checked your junk mail? I guess rollover applicants will be successful with Redditch too due to its' size. Empty! Nothing anywhere until the two emails today c16:30 about Balby I*** Refinance draw down and Balby I*** repaid, but by then I'd already spotted the changes in my Portfolio entries earlier this afternoon. That`s strange, must be some IT error.
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