Shawbrook completes £7m commercial investment loan in two days
Shawbrook Bank has completed a refinance and capital raise within two working days of the offer being made.
The bank offered the customer a £7m commercial investment loan on a 10-year term at 75% loan-to-value (LTV).
The bank’s property finance division was approached by Pure Funding Solutions to deliver the commercial investment facility.
Comprising of a £5m refinance and £2m capital raise, the lender worked closely with Pure Funding Solutions to support the existing customer finance their next commercial property investment.
The customer had approached Pure Funding Solutions seeking a refinance of their large commercial property, made up of 83 self-contained units, all fully let on short-term leases.
The customer was also looking to finance the purchase of another large commercial asset with plans to convert it into a multi-let site.
Gavin Seaholme, head of sales, property finance division at Shawbrook Bank, said: “A complex case like this, calls for an experienced team of specialists.
“Working seamlessly 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 case.
“This existing Shawbrook customer has a proven operating model which has been successful throughout the pandemic, so we are happy to support them on their continued investment journey.
“While much of the commercial property sector faces challenges, this is a clear example of how there are still opportunities out there in the market.”
Danny Churchill, owner of Pure Funding Solutions, added: “This remarkable achievement, especially in the current climate, is an outstanding effort by all involved throughout the journey of this application.
“From initial discussion to presenting to the complex deal forum, all the way through to final credit sign off, resulting in a successful completion.
“This shows that when all parties are prepared to work together and trust in each other’s ability, great things can happen.”