CSBF Capital Partners has completed its longest term bridging loan to date, providing a £2.55m facility to a SPV managed by a UK-based alternative investment fund manager.
The loan enabled the borrower purchase of a newly refurbished Grade A office space, which the borrower plans to convert into residential use at lease expiry.
Having previously provided bridging loans for up to 24 months, by providing a 36 month term, CSBF were able to provide the scope for the borrower to undertake their project, accounting for any unexpected delays, but also providing them with flexibility should their plan change – with no early repayment penalties in the loan.
CSBF were able to provide the finance, accommodating the borrower’s complex, multi-layered corporate structure and structured the facility without requiring a personal guarantee.
Jourdan Rajwan (pictured), director at CSBF, said: “It’s been a busy week with two loans completing, but there’s a great feeling in reaching a new milestone and closing our longest loan to date.
“It’s very rewarding to see our hard work and expertise come together to support our clients’ needs.”
“We feel that the ability to offer longer-term bridging facilities combines the speed and service of short-term bridging, with more certainty and flexibility for our borrowers”
