Over £2.5m Secured for Supported Housing Projects
What was the situation?
A long-standing client and experienced property developer was progressing two supported housing projects: one a ground-up build funded through development finance arranged by LDN Finance, the other a turnkey acquisition adapted to meet the end tenant’s needs.
Both were secured on 20+ year full repairing and insuring (FRI) leases backed by the local authority. The client needed long-term finance that recognised the strength of these leases and released capital to support future growth.
What was the issue?
A standard bricks and mortar valuation would not deliver the required outcome. To replenish acquisition and legal costs, funding had to be based on the investment value of the leases, made more challenging by solicitor delays, local authority involvement and tight lender requirements.
What was the process?
David Gissing, Specialist Finance Director, applied his experience in structuring complex commercial facilities to progress the case. He positioned it so both sites were underwritten on the strength of their lease covenants, while managing communication between all parties and negotiating flexibility in the lender’s criteria to keep the case moving.
What was the solution?
Two commercial term loans were completed with a combined value of over £2.5m, secured against the investment value of the leases. This allowed the client to release significant capital while securing long-term, stable finance.
What was the outcome?
David also negotiated a highly competitive rate, achieved through his expertise in structuring complex facilities and trusted lender relationships. A challenging transaction that showcases how LDN Finance’s specialist knowledge and hands-on approach deliver outstanding outcomes for clients.
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