Tuscan Capital refinance an acquisition bridge and fund the development of 12 flats in Southend-on-Sea
Tuscan Capital provided a £1,782,000 bridge to refinance another lender and complete the refurbishment of a three-storey mixed-use property set in a prime location in Southend-On-Sea.
Our client required capital to refinance an existing loan and develop a semi-commercial property on Southend high street. The ground floor units remained commercial in nature, whilst former offices on the second and third floors were extended and converted into 12 separate apartments. The shareholding structure of the borrowing entity was internationally diverse and included a Chinese national. Tuscan Capital were able to navigate the complexities of the deal structure and release funds within 29 days of terms being issued.