Shawbrook Bank closes £ 7million commercial investment loan
Shawbrook Bank’s real estate finance division has been approached by long-term strategic partner Pure Funding Solutions, to provide a £ 7million business investment facility.
Comprised of a £ 5million refinance and a £ 2million capital raise, Shawbrook Bank has worked closely with Pure Funding Solutions to help existing Shawbrook clients finance their next real estate investment. commercial.
The client approached Pure Funding Solutions seeking refinancing of their large commercial property, consisting of 83 stand-alone units, all fully leased on short-term leases.
The client was also looking to finance the purchase of another large commercial asset with plans to convert it to a multi-tenant site.
Shawbrook offered the client a 10-year £ 7million commercial investment loan at 75% LTV. Shawbrook’s offer was made on the morning of February 12, and the matter was settled on the afternoon of February 15.
Gavin Seaholme, Sales Manager at Shawbrook’s Property Finance, said: “A complex case like this requires a team of experienced specialists.
“By working transparently with our expert strategic partner, we were able to gain a deep understanding of the client’s needs and end goals, which was crucial to the success of this business.
“This existing Shawbrook customer has a proven operating model that has been successful throughout the pandemic, so we are happy to support them on their continued investment journey.
“While much of the commercial real estate industry faces challenges, this is a clear example of how there are still opportunities in the market. “
Danny Churchill, Owner of Pure Funding Solutions, added, “This remarkable achievement, especially in today’s climate, is an exceptional effort by everyone involved along the journey of this application.
“From the initial discussion to the presentation at the Complex Deal Forum, to the final credit signing, which resulted in a successful conclusion.
“It shows that when all parties are ready to work together and trust each other, great things can happen.”