Specialist bridging lender Hilco Real Estate Finance (HREF) has completed a development exit loan of £3.9m secured against a new-build petrol station located in South East London.
The loan was delivered at 70% loan-to-value (LTV), and HREF was advised on the transaction by Graham & Sibbald surveyors and Lawrence Stephens Solicitors.
Steve Allen, business development director for HREF, said: “Loans against specialist assets such as petrol stations can have their challenges, however, the experience of our team here at HREF means that we are able to take a flexible and sensible approach and deal effectively with these types of unusual scenarios.”
Hilco Real Estate Finance provides flexible property finance solutions nationwide across various real estate sectors and capital structures, offering short-term loans for growth, acquisition opportunities, development exits and refinancing exits with loan sizes ranging from £3m to £50m-plus.
