eeyore
Member of DD Central
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Post by eeyore on Nov 30, 2023 14:18:11 GMT
New 36-month commercial term loan for Hackney M*** U*** has been announced.
Total loan: £698,750 LTV: 65% Tranche A: £537.5k @ 8.3% gross Tranche B: £161.25k @ 10.25% gross
The purpose of the loan is to raise capital to acquire a further property. The security is a three-storey terraced property with a ground-floor retail unit and two residential flats on the upper floors. The property is fully tenanted, the retail unit as a restaurant & takeaway on a 20-year lease. The strategy will be to retain the property as a long-term investment and to refinance at the end of the loan's term.
The borrower for this loan is the same as for the pending Hackney R*** 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 30-Nov). Tranches A & B will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on [Monday 4-Dec].
Update 4-Dec: Due to a problem which blocked Self-Select lenders from selecting Tranche A, the deadline has been extended until 17:30 on Wednesday 6-Dec.
Update 12-Dec: The loan was drawn down today and is due to mature on 12-Dec-2026.
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bababill
Member of DD Central
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Post by bababill on Dec 6, 2023 22:30:43 GMT
Did anyone receive an allocation?
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Post by Ace on Dec 6, 2023 23:53:05 GMT
Did anyone receive an allocation?' I think we won't find out until the morning, as it was delayed by one day. See the update to eeyore 's comment above.
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