Assetz Capital has financed three bridging loans totalling £1m, helping an SME property investor to finalise three purchases of property in London.
Specialising in hospitality, the borrower had its core business disrupted by Covid-19, so took the opportunity to pivot its strategy and invest in smaller property projects. After identifying three properties in London, the borrower’s intermediary partner Amram Finance connected the investor to Assetz Capital, which provided the short-term finance required to complete the transactions quickly.
The funding has enabled the client to seek or renew tenancy for each property and conduct light refurbishment to one of the homes.
By providing a short-term funding vehicle and enabling the business to focus on sourcing a long-term lender to exit the bridging facilities, the loans have also played a key role in helping them to get from purchase to exit.
Laleta Buctkuar, relationship director at Assetz Capital, said: “We’re delighted to have assisted our client with their property purchases in London. Our residential bridging offering is proving popular for borrowers looking at short term requirements such as purchases, re-mortgages, and development-exit, so I’d encourage any brokers to get in touch with us when they need to place a bridging deal.
“We can tackle any scenario, and we provide quick, flexible and reliable finance through our real-world lending approach.”
