Development Exit Finance
£3.5m Development Exit for Office Unit
Providing the necessary time
Loan Size: £3.5m
Location: North West
Loan Type: Development exit
Security Type: Commercial office unit
Term: 18 months
About the Deal
The client required a development exit loan to refinance existing debt and provide a period to find a blue chip tenant before moving to a long-term finance provider.
There had been delays with the development of this building and therefore the client needed to exit their development loan and be given a 12-month minimum period to enable them to find a tenant. Signing a lease would allow them to revisit a long-term commercial mortgage on the property.