{"id":19923,"date":"2023-06-15T00:11:27","date_gmt":"2023-06-14T16:11:27","guid":{"rendered":"https:\/\/www.dev.articusfinance.com\/uncategorized\/2-4-m-refinance-for-commercial-property-development"},"modified":"2023-09-14T16:03:25","modified_gmt":"2023-09-14T08:03:25","slug":"2-4-m-refinance-for-commercial-property-development","status":"publish","type":"post","link":"https:\/\/www.articusfinance.com\/ch\/case-studies\/2-4-m-refinance-for-commercial-property-development","title":{"rendered":"\u00a32.4 M Refinance for Commercial Property Development"},"content":{"rendered":"<h2 style=\"font-size: 15px;\"><span style=\"font-family: Verdana, Geneva, sans-serif; color: #134f5c;\"><strong>The case in brief<\/strong><\/span><\/h2>\n<ul>\n<li><span style=\"font-size: 10pt;\">Client: UK National &amp; Resident<\/span><\/li>\n<li><span style=\"font-size: 10pt;\">Property type: Buy-to-let refinance on a high-value<\/span><\/li>\n<li><span style=\"font-size: 10pt;\">Property value: \u00a33.8 million<\/span><\/li>\n<li><span style=\"font-size: 10pt;\">Loan Amount: \u00a32.4 million<\/span><\/li>\n<\/ul>\n<p><span style=\"font-family: verdana, geneva, sans-serif; font-size: 10pt;\">Articus was approached by an existing client &#8211; an experienced investor in <span style=\"color: #45818e;\"><a style=\"color: #45818e;\" href=\"https:\/\/www.articusfinance.com\/ch\/commercial-mortgages\"><u>commercial properties<\/u><\/a><\/span>. The client sought to refinance their commercial asset located in East London.<\/span><\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif; font-size: 10pt;\">If you are a property investor looking for new opportunities, <span style=\"color: #45818e;\"><a style=\"color: #45818e;\" href=\"https:\/\/www.articusfinance.com\/ch\/contact\"><u>contact the Articus team today<\/u><\/a><\/span>.<\/span><\/p>\n<h2 style=\"text-align: justify; font-size: 15px;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\"><span style=\"color: #134f5c;\"><strong>Our client<\/strong><\/span><\/span><\/h2>\n<p><span style=\"font-family: verdana, geneva, sans-serif; font-size: 10pt;\">Specifically, they were combining two office suites into a single unit. The total area of the office was approximately 5,000 sqft, and the client intended to secure a loan of \u00a32 million based on the property&#8217;s value of \u00a33.8 million.<\/span><\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif; font-size: 10pt;\">The client&#8217;s objective was twofold:<\/span><\/p>\n<ol>\n<li><span style=\"font-family: verdana, geneva, sans-serif; font-size: 10pt;\">Raise the necessary funds to repay an existing <a href=\"https:\/\/www.articusfinance.com\/ch\/bridging-loans\"><span style=\"color: #45818e;\"><u>bridging loan<\/u><\/span><\/a> obtained during the <span style=\"color: #45818e;\"><a style=\"color: #45818e;\" href=\"https:\/\/www.articusfinance.com\/ch\/development-finance\"><u>development project <\/u><\/a><\/span>worth \u00a31.4m. They were looking to minimise the amount of time due to the high expense of the bridging loan; and<\/span><\/li>\n<li><span style=\"font-family: verdana, geneva, sans-serif; font-size: 10pt;\">Unlock additional capital for pursuing new opportunities.<\/span><\/li>\n<\/ol>\n<h2 style=\"text-align: justify; font-size: 15px;\"><span style=\"color: #134f5c; font-family: Verdana, Geneva, sans-serif;\"><strong>Our solution\u00a0<\/strong><\/span><\/h2>\n<p><span style=\"font-family: verdana, geneva, sans-serif; font-size: 10pt;\">We approached a specialist commercial lender who was able to begin the application process prior to the works being completed and tenants moving in. This was to avoid any unnecessary bridging payments.<\/span><\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif; font-size: 10pt;\">Our close work with the lender and constant communication with the client enabled a smooth \u2018headache free\u2019 process. The lender also honoured the quoted rate at the beginning of the process, even though the base rate and the lenders&#8217; rate had risen considerably.<\/span><\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif; font-size: 10pt;\">The lender was also happy to provide extra liquidity for the client, knowing that they were a sophisticated investor with a track record.<\/span><\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif; font-size: 10pt;\">Are you a property developer in search of a <a href=\"https:\/\/www.articusfinance.com\/ch\/commercial-development\"><span style=\"color: #45818e;\"><u>specialised financing loan<\/u><\/span><\/a>? Maybe you&#8217;re interested in refinancing your current arrangement or require a <a href=\"https:\/\/www.articusfinance.com\/ch\/development-finance\"><span style=\"color: #45818e;\"><u>developmen<\/u>t<\/span><\/a> or <a href=\"https:\/\/www.articusfinance.com\/ch\/bridging-loans\"><span style=\"color: #45818e;\"><u>bridging loan<\/u><\/span><\/a>?<\/span><\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif; font-size: 10pt;\">At Articus, our experts secure <a href=\"https:\/\/www.articusfinance.com\/ch\/guides\/short-term-finance\"><span style=\"color: #45818e;\"><u>short-term finance solution<\/u>s<\/span><\/a> for your unique needs. We guarantee competitive rates with our vast experience and trusted network of lenders. <span style=\"color: #45818e;\"><a style=\"color: #45818e;\" href=\"https:\/\/www.articusfinance.com\/ch\/contact\" target=\"_blank\" rel=\"noopener\">Get in touch today.<\/a><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The case in brief Client: UK National &amp; Resident Property type: Buy-to-let refinance on a high-value Property value: \u00a33.8 million Loan Amount: \u00a32.4 million Articus was approached by an existing client &#8211; an experienced investor in commercial properties. The client sought to refinance their commercial asset located in East London. If you are a property [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":19200,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[70],"tags":[],"class_list":["post-19923","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-case-studies"],"acf":[],"jetpack_featured_media_url":"https:\/\/www.articusfinance.com\/wp-content\/uploads\/2023\/06\/2.4-M-Refinance-for-Commercial-Property-Development.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.articusfinance.com\/ch\/wp-json\/wp\/v2\/posts\/19923","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.articusfinance.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.articusfinance.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.articusfinance.com\/ch\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.articusfinance.com\/ch\/wp-json\/wp\/v2\/comments?post=19923"}],"version-history":[{"count":1,"href":"https:\/\/www.articusfinance.com\/ch\/wp-json\/wp\/v2\/posts\/19923\/revisions"}],"predecessor-version":[{"id":20967,"href":"https:\/\/www.articusfinance.com\/ch\/wp-json\/wp\/v2\/posts\/19923\/revisions\/20967"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.articusfinance.com\/ch\/wp-json\/wp\/v2\/media\/19200"}],"wp:attachment":[{"href":"https:\/\/www.articusfinance.com\/ch\/wp-json\/wp\/v2\/media?parent=19923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.articusfinance.com\/ch\/wp-json\/wp\/v2\/categories?post=19923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.articusfinance.com\/ch\/wp-json\/wp\/v2\/tags?post=19923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}