Client: An existing HNW client with an impressive 25-million-pound commercial portfolio.
Requirement: Our client wanted to raise in excess of £14 million against part of the portfolio for further investment in other properties. With several of the commercial properties on existing short-term leases, this was deemed challenging for the majority of high street lenders.
Facility: A bespoke service was provided whereby Coreco Commercials’ strong working relationship with the Real Estate Division at One Savings Bank enabled the transaction to sail through in minimal time. We were able to secure a respectable facility from Interbay Commercial Finance and rates that kept the transaction appealing to the client. With a firm guiding hand from all parties, including Coreco Commercial, Interbay & Paris-Smith LLP our client benefited from the efficient, professional relationships that had been developed throughout the deal.
Broker: Julian Ingall