Bridging loan specialist Whitehall Capital grants £714k bridge loan for £1.4m mixed-use property
Whitehall Capital Fund (‘Whitehall Capital’ or ‘the Company’), the specialist commercial and residential property bridge financing fund, is delighted to announce that it has completed a £714k loan for a scheme of 30 flats with a commercial ground floor, valued at £1.4m, located in Darlington, County Durham.
Whitehall Capital has deemed the risk profile for the property to be moderate/low. The loan has a tenor of 12 months and covenants include that the Loan to Value (‘LTV’) ratio must not exceed 65%.
Whitehall Capital, part of the Amram Capital Wealth Management group, issues short term loans (normally 3 to 12 months) that are primarily secured against residential UK property although properties may be residential, commercial, mixed-use or land with planning permission. It ideally targets loans secured against properties valued at between £1m and £10m. The majority of loans are in the £1-5m range. The fund only lends against properties in the UK and has a conscious bias towards big cities – London, Manchester, Birmingham etc. Its current focus area is outside central London but within the M25, but it is actively looking to be a more national lender of choice for its target market.
The loan target net return to investors is between 10% to 12% per annum. Since its establishment, Whitehall Capital has returned a net 10.4% on loans on an annualised basis.
Anthony Bodenstein, CEO of Whitehall Capital, said, “I’d like to extend my gratitude to my extremely efficient team, that was able to complete the loan in just 5 days, with special thanks again to Avi Barr and Nishta Camiah from Lawrence Stephens Solicitors, who worked extremely hard to get the deal closed so quickly. As a sub-fund of Amram Capital, we have access to a readily available pool of capital and therefore our turnaround time for loans is much shorter than our competitors.
“I’m very pleased with the consistent deal flow and steady returns the fund has delivered in the first quarter of this year and I look forward to growing the fund further during the coming months.“
For more information please visit https://www.whitehalllending.com/
Founder & Managing Partner
T: +44 (0) 203 026 7437
About Whitehall Capital
Whitehall Capital is a 100% privately funded specialist provider of short-term finance, auction finance and development finance with over a decade of experience in the market. The Company’s team work to provide short term, flexible and bespoke property funding solutions across the whole of the UK.
Whitehall Capital is part of Amram Capital, a company authorised and regulated by the Financial Conduct Authority, which acts as investment adviser to Whitehall Capital. Being part of a large asset management group provides Whitehall Capital which flexibility of funding capability, ensuring that projects can be funded, even when banks or other lenders say no.