A multi-million pound completion over the line yesterday, funding the acquisition and conversion of a building into 12 flats.
The structure covered the purchase through a senior bridging facility, with a seven-figure build facility alongside to fund the works. On top of that, we arranged mezzanine finance to top up the deposit monies, meaningfully reducing the day-one cash the client had to put in from their own pocket.
The exit is already mapped out. Once the conversion is finished, the client will refinance onto a MUFB mortgage across the 12 units, moving from short-term development finance onto a long-term hold.
Layered structures like this take some pulling together, but where the numbers support it, they let a project get off the ground with far less cash tied up at the outset.
If you've got a development coming up and want to talk through how to structure the funding, get in touch.
