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Octane provides £9m facility for mixed-use portfolio

Octane Capital has provided a £9m loan to facilitate the acquisition of a large mixed-use portfolio.

 

The property portfolio is in Crystal Palace, and has more than 60 different tenancies as well as 40 different titles; it had been held and managed by the same owners for over 25 years.

The sale also involved the transfer of shares from two limited companies to an intricate ownership structure.

The exit is a refinance to a term lender.

Nick Harrison, founder at Bespoke Business Finance, said: “This ended up far more complicated than originally anticipated with a share purchase agreement involving numerous shareholders, a highly complex security structure and three sets of lawyers.

“In my eyes, the transaction would never have got over the line without the tremendous skill, energy and hard work of Alex Tyrwhitt, Octane’s Head of Structured Finance.”

Alex Tyrwhitt, head of structured finance at Octane Capital, added: “Nick Harrison and Martin Lee of Bespoke showed their quality and experience as ever by working day and night to ensure all parties and professionals were on track, informed and motivated to see the deal through to a successful completion.

“In addition, Simon Noonoo and the rest of the team at Seddons were absolutely crucial in getting this labyrinthine deal over the line.”

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