LHV Bank has completed a £7.4m refinancing facility for an established property investment and development group.
The transaction involved refinancing a parade of shops located in an Essex town, secured across multiple titles with more than 20 tenants and leases.
The facility also refinanced a bridging loan.
The introduction was facilitated by Fine Mortgages, and required LHV Bank to navigate multiple cash flow scenarios across more than 20 leases, as well as security positions across multiple titles.
The funding package provided by LHV included a commercial real estate investment loan structured over a 5-year term.
The facility featured a 1-year interest-only period, amortised over 25 years, and was secured by a first legal charge across multiple titles and a company debenture.
Sadiq Patel (pictured), lending director at LHV Bank, said: “This transaction exemplifies our ability to work on complex and multi-faceted real estate transactions.
“Despite the time-sensitive nature of the request, our team worked tirelessly to meet the client’s needs, ensuring a seamless experience from introduction to completion.
“We are proud to have delivered a solution that aligns with our client’s long-term vision.
“This refinancing package not only demonstrates our ability to execute complex deals but also showcases our dedication to forming enduring partnerships with market-leading investors and developers.”
Conor McDermott, director of SME lending at LHV, added: “Sadiq and the team worked tirelessly with Fine Mortgages to complete this on challenging timescales, with the transaction completed within eight working days of approval.
“Special thanks to the legal team at Lawrence Stephens led by Anna Christou, who worked on this over the weekend to ensure a successful refinance.”
