Short-term, real estate-backed lender marks biggest agreement to date on complex super prime London property
ST HELIER, Jersey–(BUSINESS WIRE)–#AssetBackedLoans–Tenn Capital, the company that offers short-term, real estate-backed lending solutions, has completed its largest loan agreement to date with a value of £40m.
Tenn was approached by a repeat customer who required funding for a super prime property asset in London. The customer has been undertaking a significant refurbishment of the property located in one of the most exclusive squares in central London.
The customer required funding to repay existing finance and to make a small capex facility available.
The property was complex in that it is held in an offshore trust structure which included multiple jurisdictions. Due to the complexity involved, the Tenn team provided support and guidance throughout the transaction as well as ensuring all legal and regulatory requirements were met. This proved to be crucial in getting the deal over the line and allowing the client to meet their goals.
The £40m loan is the largest single deployment Tenn has provided since inception and funded through one of Tenn’s syndication partners. The Tenn team led the facilitation of the deal, working with the various third parties in each location to ensure success.
Steve O’Brien, Managing Director at Tenn Capital, said: “We are delighted to have agreed our largest loan to date on a super prime property in London. That we were able to do this with an existing customer makes it that little bit more special.
The deal really does showcase Tenn’s ability to secure significant finance against prestigious properties held in complex, multi-jurisdictional ownership structures and I couldn’t be prouder of the team in getting this Loan over the line.”
Editor’s Notes
About Tenn Capital:
Tenn Capital specialises in offering high-value bridging loans to individuals or Corporates with complex or time-sensitive lending requirements.
Our team has unrivalled international experience in the international property, credit, structuring and advisory sectors. Tenn is there to help borrowers unlock capital and pursue opportunities that would otherwise be out of reach.
Contacts
Sarah Mortimer
GameOn
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