Prime real estate lender, Mera Investment Management has announced that it has completed an £11m facility for a residential property in London’s prestigious Holland Park.
The bridging facility was used to repay the existing lender and allow the borrower — an experienced property investor with a significant portfolio across central London — time to market the asset and achieve the best value.
The detached villa, located a few streets away from where a £61.5m mansion was recently sold to the Abu Dhabi royal family, has been developed into a five-bedroom home and is expected to be put on the market in the spring.
The borrower was introduced to Mera's CEO Edward Matthews (pictured) by Sohail Yasin of Springtide Capital, who was confident in Mera’s experience and ability to complete a transaction of this size and in the required timeframe.
“We focus on lending in prime locations and this asset, located on one of London's premier roads, was a perfect fit for us," noted Edward, adding "We worked closely with the borrower and Springtide Capital to tailor the facility and ensure it worked well for all parties."
“This case demonstrates our specific area of expertise, and that Mera is becoming a byword for high quality, prime real estate lending.” he concluded.
“There were a number of hurdles that had to be overcome, but the team at Mera were commercial and pragmatic throughout the entire process to ensure the successful completion,” added Sohail.
