Judd Cole, Arc & Co. Director in Southern Europe, has completed an equity release transaction of €10m, secured against a 34-meter new-build motor yacht.
The 48-month facility, provided by German bank AKF with no AUM required, will enable the European borrower to release funds for investment purposes.
Judd commented:
“One of the big challenges with this case was registering in a jurisdiction that would make the yacht eligible for financing.
“AKF were highly efficient and flexible in assisting with this aspect, and once everything was in place, they were able to move forward quite quickly in providing the loan”