Catalyst has completed a £7.475m term buy-to-let (BTL) refinance for an experienced regional property developer.
The loan, introduced by an intermediary partner, will refinance an existing debt facility on a 100-plus unit student accommodation block, a stunning Grade II listed building in Newcastle City Centre.
The property, valued at £12.5m, generates an income of over £1m annually.
Chris Fairfax, CEO at Catalyst, said: “We are delighted to have once again partnered with this broker and their developer client.
“Initially, the broker introduced the client to us for a short-term loan to purchase the property; after successful acquisition, they moved onto Catalyst refurbishment finance to develop the student accommodation.
“With the works completed, they have refinanced the project on our term loan to retain within their rental portfolio.”
Fairfax added: “This refinance demonstrates Catalyst’s ability to provide flexible and efficient funding solutions for complex property transactions.
“We look forward to continuing our strong relationship with the broker and borrower, supporting their future growth.”
