Specialist bridge financing fund, Whitehall Capital Management has completed a £2.025 million loan on a four-bedroom residential apartment in Marylebone.
The loan, with first charge over the property, has a clear and reliable exit, with refinance to a defined mainstream lender, and has been made for an initial period of six months.
The loan will facilitate the refinancing of a recently refurbished £2.7m residential apartment on the third floor of a period mansion block. Bickenhall Mansions, the property in question, comprises two substantial blocks of apartments, built in the early 20th century, arranged on the North and South sides of Bickenhall Street, close to the Northern end of Baker Street.
Paul Colam, Whitehall Capital’s chief operating officer, said: “We are 100% self-funded here at Whitehall, leveraging a well-established network of HNW individuals, family offices, hedge funds, and as required, the wider market, so we are funded to move at pace and can reduce transaction turnover times significantly; that gives us a real market advantage and has contributed significantly to the widely coveted reputation we enjoy for a quick turnaround, our clear, open, honest communication throughout the loan process and our ability to get projects funded.
“Our transaction pipeline remains strong and encouraging, and with life beginning to return to some normality, we look to the second half of the year with great optimism. Our focus on high-quality borrowers and low LTV loans is proving to be a recipe for success in the current economic environment, with some excellent lending opportunities being presented to us at this time.”