Julian King, Director within the structured finance team at Arc & Co. has secured a £3.7m investment loan for his client, a Hong Kong based investor to refinance a 53 bed student block in the centre of Nottingham. There were several constraints in completing the facility given the offshore structure of the borrower which were navigated to structure a suitable debt facility.
Julian King added “This is the third transaction I’ve been involved in with my client having previously structured finance for two previous developments in London. Its great working with the team and to look at their wider investment portfolio as the company grows and to be involved in their overall corporate debt strategy”.
The £3.7m investment loan was provided by Secure Trust Bank, to aid with the refinance of the outgoing lender and to provide certainty within the investment portfolio in these uncertain times. The loan was provided for a period of 5 years at a fixed interest of 3.99% p.a at a 65% LTV.
David Burke, Lending Director at Secure Trust Bank said “This is our second deal with the client, who continues to be well represented by Julian King at Arc & Co. The case involved several complexities however all parties worked together extremely hard to get the deal over the line within a very short timescale. We are delighted to be able to continue to support existing clients and we are looking forward to building on the foundations of this existing relationship.”
Secure Trust Bank was advised by Clarke Willmott with the client being advised by Gunner Cooke, both of whom did an excellent job in getting the loan completed within a tight timeframe of 6 weeks, in which to secure the terms under the loan.