Quantum by Bridgebank Capital has completed a £10.95 million short term loan advance against a portfolio of prime London properties.
Part of the property portfolio is undergoing redevelopment works, in a complex ownership structure, for a non-domiciled, non-resident, high net worth borrower.
The properties are held within a complex structure of offshore companies and ‘trustcos’, and has been provided to complete a debt refinancing arrangement agreed with the borrower’s previous term lender.
During the underwriting and due diligence process, the team at Quantum by Bridgebank Capital worked with a number of international counter parties and advisers involved in the lending process, relating to matters connected to the offshore companies and trust arrangements.
As a result of Quantum by Bridgebank Capital’s ability to cross collateralise on additional security, it was able to provide the funding required for the borrower at a 30% LTV.
Carl Graham, sales director, said: “This completion demonstrates Quantum by Bridgebank Capital’s ability, along with our professional support teams and underwriters, Chris Edwards and Nigel Taylor, to deliver against borrower requirements, whilst overcoming a range of complex issues that may have deterred other lenders.”
