£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.

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