Hotel Purchase

Overview

The sponsor was acquiring an established hotel which offering significant synergies to their existing business operations. Trading performance had seen a big improvement in the last 12 months, but needed to stabilise before a long-term funding solution would be available. Our facility enabled them to complete the purchase in line with the time scales agreed with the vendor.

Loan Amount
£10,500,000
Security
1st Legal charge & debenture
Limited PGs
Term
18 months
Repayment Terms
Interest only serviced monthly from trading profits
Exit
Refinance with a long-term commercial mortgage