Tenn Capital Signs Off on £40m Bridging Loan
06 Agosto 2024 - 12:30AM
Business Wire
Short-term, real estate-backed lender marks
biggest agreement to date on complex super prime London
property
Tenn Capital, the company that offers short-term, real
estate-backed lending solutions, has completed its largest loan
agreement to date with a value of £40m.
Tenn was approached by a repeat customer who required funding
for a super prime property asset in London. The customer has been
undertaking a significant refurbishment of the property located in
one of the most exclusive squares in central London.
The customer required funding to repay existing finance and to
make a small capex facility available.
The property was complex in that it is held in an offshore trust
structure which included multiple jurisdictions. Due to the
complexity involved, the Tenn team provided support and guidance
throughout the transaction as well as ensuring all legal and
regulatory requirements were met. This proved to be crucial in
getting the deal over the line and allowing the client to meet
their goals.
The £40m loan is the largest single deployment Tenn has provided
since inception and funded through one of Tenn’s syndication
partners. The Tenn team led the facilitation of the deal, working
with the various third parties in each location to ensure
success.
Steve O’Brien, Managing Director at Tenn Capital,
said: “We are delighted to have agreed our largest loan to date on
a super prime property in London. That we were able to do this with
an existing customer makes it that little bit more special.
The deal really does showcase Tenn’s ability to secure
significant finance against prestigious properties held in complex,
multi-jurisdictional ownership structures and I couldn’t be prouder
of the team in getting this Loan over the line.”
Editor’s Notes
About Tenn Capital:
Tenn Capital specialises in offering high-value bridging loans
to individuals or Corporates with complex or time-sensitive lending
requirements.
Our team has unrivalled international experience in the
international property, credit, structuring and advisory sectors.
Tenn is there to help borrowers unlock capital and pursue
opportunities that would otherwise be out of reach.
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Sarah Mortimer GameOn Sarah.mortimer@gameon.im