Type: Senior Loan Acquisition
Loan Amount: £17.34m
Term: 12 months
Location: Nationwide

AT A GLANCE
GRE Finance agreed a 12-month senior loan of £17.34m secured by way of a first charge over a mixed-use portfolio, comprising 76 UK properties (51 commercial and 25 residential) spread across London and the Southeast and the Northeast of England.

THE BRIEF
The client, an individual, was looking to restructure their company’s ownership by acquiring further shares. The company’s assets consisted of a property portfolio, valued at £47.5m and comprising the mixed-use portfolio (£29.2m) against which the loan would be secured, and other assets (£18.3m). The restructure was part of a larger transaction by the client to consolidate ownership over various other property assets.

THE SOLUTION
GRE Finance assessed the borrower’s wider restructuring plans and having understood the depth of equity in the overall portfolio, which was sustained by high cash generation due to the tenant profile, we were able to provide a short-term flexible loan that allowed the restructure to take place.

THE OUTCOME
Following our in-depth analysis of the portfolio and the wider restructuring plans, GRE Finance was able to agree a facility that enabled the borrower to take on 83% ownership of the target company.