Senior Debt Funding for the Retail Sector
Our client had secured quite expensive development finance and were introduced to Bircroft to help them refinance the existing debt on completion of the development on pre-lets. Lenders struggled to see past the sector despite the quality of the asset and tenant mix.
Bircroft introduced a niche, international funding partner who understood the quality of the asset and was able to provide terms that suited the borrowers needs in terms of pricing and leverage, but could also deliver the solution with speed and ease compared to many other lenders at that ticket size.
- Speed and ease of due diligence to complete the loan
- Option for a further advance on the Starbucks pre-let which came through as a 2nd phase of funding