InterBay has developed a commercial investment team, comprising finance specialists with experience in the commercial and semi-commercial arena.
The team, known as specialist finance account managers (SFAMs), was built to find suitable solutions for brokers and their clients.
This includes helping clients who are looking to diversify into semi-commercial or commercial, as there are distinct differences both in terms of application and process which need to be considered.
Marc Callaghan (pictured), head of specialist finance at InterBay, said: “Our dedicated commercial investment team are subject matter experts which really showcases their skills in seeking solutions tailored to each client’s set of circumstances.
“For example, the changing face of the high street and increasing popularity of local shopping parades is attracting semi-commercial investment opportunities.”
A semi-commercial case that completed recently was through Aquilae Capital Advisory, a broker partner who had used InterBay before and now had a semi-commercial remortgage case in Brentwood, Essex, with a property value of £8.28m.
The deal was 19 units, made up of seven commercial units on the ground floor and 12 residential flats above.
The challenge came from the current occupancy as four of the commercial units were vacant and the case sat outside of InterBay’s semi-commercial criteria.
The partnership between the broker Matthew Yassin and InterBay SFAM, Mo Parmar, helped drive the case, which completed in two and a half months.
The deal was £5.55m at 67% loan-to-value (LTV) over a 10-year interest only term.
Matthew Yassin, managing director at Aquilae Capital Advisory, said: “Working with InterBay is always a pleasure given their deep knowledge and experience of commercial real estate.
“On this recent transaction InterBay’s flexible approach was even more evident.
“Mo and the team went beyond expectation and demonstrated why InterBay are market leaders when considering commercial finance transactions.
“There was a full understanding of the transaction from the outset of what was required to get the deal over the line.
“It was refreshing that flexibility was applied as and when needed along with sensible conversations when challenges were identified throughout the process.”
