Hilco Real Estate Finance completes £3.2m bridging loan on East Midlands rental portfolio
By Bridging Loan Directory
Hilco Real Estate Finance (“HREF”), a Hilco Global Company, has agreed a £3.2 million bridging loan against a portfolio of 17 rental homes in Boston, Lincolnshire.
The 12-month facility will enable the borrower to bridge until an anticipated refinance through established buy-to-let mortgage providers later this year.
15 of the homes are already let out and generating rental income, with viewings from prospective tenants taking place at the final two units.
The 17 homes are part of a wider residential development in the town, and are owned by an experienced investor.
Sean Adams, Managing Director of HREF, said:
“Occupier demand for new-build rental homes, particularly in this region, make this an attractive proposition, and one for which a bridging loan is a natural financing solution.
Our borrower now has the time and space to arrange the best possible long term financing option.”
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