We delivered finance for two offshore borrowers looking to refinance central London apartments.
Read our case study which highlights two of our core values at Ortus – expertise to deliver a deal within a tight timeframe and innovation to think outside the box when a deal becomes more complex.
The borrowers were introduced to us by Lee Isham, Founder of Lifetime Capital and were looking to facilitate the refinance of two apartments in St John’s Wood, London – one of the city’s most upmarket residential locations.
St John’s Wood offers both the ease of access to central London – it is a brisk walk into town or two tube stops into Bond Street, whilst also offering an attractive high street filled with boutiques, bars and restaurants for those who want to stay more local.
The need for speed in bridging finance is critical and this deal was no exception to the rule. The deal was significantly time-pressured as the borrowers wanted to refinance loans from their bank in Singapore which has an annual short refinance window and so securing a bridging loan was a perfect fit. We received the initial enquiry before Christmas and were able to close the deal before the year was out – making sure our borrowers got the finance they need when and how they needed it.
Our borrowing entities were both registered in the British Virgin Islands with Borrowers both being Sri Lankan nationals. Both borrowers possess impressive experience, are accomplished investment professionals and hold high ranking positions in reputable international financial institutions and so we were more than comfortable with the deal. A loan of £1.2M was agreed to facilitate the two central London apartments and we agreed on a flexible approach to the facility by making it available in two tranches.