United Trust Bank’s structured property finance division has completed a £2.8m residential investment loan to support the share transfer of a company holding two subsidiary firms, each owning a single property.
The borrower, a family-owned investment business with two equal shareholders, secured the opportunity to acquire the properties outright following the restructuring of a series of joint venture projects. One of the shareholders had maintained a professional relationship with the vendor for around 40 years as both an employee and consultant.
Due to the transaction’s complexity, the purchaser was introduced to UTB by their solicitors. The bank arranged a three-year residential investment loan of £2.8m, including fees, which combined with a £1m cash injection from the borrower, enabled the settlement of existing debts on both properties once the share transfer was completed.
Nikolas Van Mol, director of Oast Investments, said: “Neil and the team at UTB quickly understood the scenario and our requirements, and set about creating a solution which met our needs.
“UTB’s experienced team were a pleasure to deal with, and I would certainly welcome working with the bank again on other projects.”
Neil O’Shea (pictured), business development director – structured property finance at United Trust Bank, added: “We were delighted to provide Oast Investments with the funding they needed to complete their transfer.
“We offer bespoke funding solutions to suit a wide variety of requirements including acquisitions, portfolio restructuring, investment lending, loan refinancing, equity releases and refurbishment projects.
“Borrowers can include companies and trusts – both on and offshore – family offices and individuals. Where we excel is in providing quick and competitive solutions to meet unusual requirements, either for the purpose of the loan itself, the complex nature of the borrower structure, or in many cases, both.
“We would welcome the opportunity to work with this highly experienced and professional team again in the future.”
