Specialist bridging lender, Hilco Real Estate Finance (HREF) has announced that it has completed a £27m loan facility to Gibraltar-based investor Sir Christian Sweeting, secured against two properties in Mayfair and Knightsbridge.
The loan is secured against a block of serviced apartments and a block of high-end residential apartments let on short-term tenancies.
The borrower is owned by a very experienced real estate entrepreneur who is seeking to optimise the operating performance of these excellently located assets. The deal was particularly complex as the assets have been held in offshore entities and were acquired out of receivership following the passing of the majority shareholder.
Charlie Job (pictured), an associate at HREF, said: “This complicated transaction underlines HREF’s ability to work through complex circumstances, providing flexibility and support to borrowers with their transitional financing requirements.”
Sir Christian Sweeting commented “It was great to work with a lender that was prepared to take the time to fully understand the complexities and nuances of this transaction. The challenges were worked through methodically and successfully, and I look forward to establishing a long-lasting relationship with HREF.”
