Hilco Real Estate Finance (HREF) has completed a £27m loan facility to Gibraltar-based investor Sir Christian Sweeting, secured against two prestigious properties in Mayfair and Knightsbridge.
The facility provided by the specialist bridging lender is secured against a block of serviced apartments and a block of high-end residential apartments let on short-term tenancies.
The deal was 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, 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 added: “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.”
Valuations for the transaction were undertaken by Knight Frank, and legal due diligence was provided by Trowers & Hamlin in London.
