Recent Deals Done – James Waddicker

James’ expertise is Property Development finance, Mezzanine Finance, Equity Funding and Bridging Finance.

Here are some Case Study highlights from May 2019:

Development Facility for 25 units in Dublin. A net facility of €3,050,000 was required to fund the build costs. A rate of 8.25% was achieved with no Exit Fees. The Loan to GDV being 70% on an 18 month term.

Development Facility for 90 units in a North West City with a facility of £14m. No PGs were taken on the senior or mezzanine facilities given the number of pre-sales. The Senior Debt Loan to GDV being 65% with the Mezz adding another 10% to this.

Equity Funding and Development Facility. 100% of the project costs were raised for a developer with a scheme just outside Chester. A senior debt development facility was arranged with an equity slice to top up to 100%, with the equity provider taking a profit share.

Developer Exit for 6 properties in Birmingham at 78% LTV. This facility was completed within 2 weeks and gave the developer 9 months to sell the properties. This deal had no exit fees, a 2% facility fee and an interest rate of 0.79% pcm.

Auction Finance of £267,000 covering 100% of Purchase Price on a property in Manchester. The 12 month facility had a 2% arrangement fee with a monthly interest rate of 0.75%, and no Exit Fees.

At Positive Commercial Finance we have a wide range of options for most scenarios – we will find the best option for you!

Please contact James now to discuss your finance requirements.