Bridging finance of a portfolio for a real estate company
After purchasing a portfolio, this real estate concern needed bridging finance for 1.5 years. JCC was able to achieve favourable terms for them within a very short time.
A real estate company with an annual balance sheet total of over € 500 million had purchased a special portfolio. The value was around € 30 million. Capital expenditure of € 4 million was required. A sale offer subject to capital expenditure was available, the capital expenditure required a period of approximately one year.
The portfolio needed bridging finance for 1.5 years in order to be able to carry out renovations and sell the properties without time pressure.
Bridging finance for the full amount was achieved. In addition to the usual banking security, a cash deposit was required as security, from which the capital expenditure was to be paid within the scope of the term. The time from termsheet to value date was only 6 weeks. (Financing sum € 27 million)