Bridging Loan Specialists Whitehall CapitalGrants £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 £1.26m loan for a mixed-use residential and commercial development, valued at £2.2m, located in Islington, North London.
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 say a particular thank you to Denise Frohwein who joined Whitehall Capital as Relationship Manager in January this year and is a real estate and financial industries professional with more than 10 years’ experience in these sectors. She has been playing an integral role in sourcing, building and maintaining new client relationships and thereby assisting towards Whitehall Capital’s expanding loan book. This loan completion follows hot on the heels of the loan we closed last week in Darlington, County Durham, and we look forward to growing the fund’s volume of loans and geographic reach even further.”
For more information please visit https://www.whitehalllending.com/
Founder & Managing Partner
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.