We provided our client with a 9 month Bridge Loan with a First Charge on land with planning for 29 units to allow the borrower a quicker purchase while they finalised development finance.
We were then repaid via refinancing once development finance had been arranged.
Loan Amount: £900,000
Our client required £200,000 of mezzanine debt funding to bridge the gap between senior finance and developer equity.
The development involved the construction of 14 apartments on a plot of land with £2.44m GDV.
The loan was fully repaid within 12 months.
We provided our client with £300,000 in mezzanine development finance on a project of 16 flats and houses with a GDV of £3m.
The loan was repaid one month early in full as the highly efficient construction manager completed the scheme in seven months.