United Trust Bank (UTB) Structured Property Finance has completed a £2.8m residential investment loan to assist with the funding of a share transfer of a company which wholly owned two subsidiaries, with one property held in each.
The borrower had a family-owned investment business with two equal shareholders, one of which had a professional relationship with the vendor for around 40 years as employee and consultant.
Due to the restructuring of a series of joint venture projects, the opportunity to wholly purchase the two properties via a share transfer became possible and due to the complex nature of the transaction the purchaser was recommended to UTB by their solicitors.
UTB was able to provide a 3-year residential investment loan of £2.8m including fees which together with a £1m cash injection from the borrower was sufficient to settle the existing debts on both properties once the share transfer was complete.
Nikolas Van Mol, director of Oast Investments, said: “Neil and the team at UTB quickly understood the scenario and our requirements, and set about creating a solution which met our needs.
“UTB’s experienced team were a pleasure to deal with, and I would certainly welcome working with the Bank again on other projects.”
Neil O’Shea (pictured), business development director – Structured Property Finance at United Trust Bank, said: “We were delighted to provide Oast Investments with the funding they needed to complete their transfer.
“We offer bespoke funding solutions to suit a wide variety of requirements including acquisitions, portfolio restructuring, investment lending, loan refinancing, equity releases and refurbishment projects.
“Borrowers can include companies and trusts – both on and off-shore – family offices and individuals. Where we excel is in providing quick and competitive solutions to meet unusual requirements, either for the purpose of the loan itself, the complex nature of the borrower structure, or in many cases, both.
“We would welcome the opportunity to work with this highly experienced and professional team again in the future.”
