Lawrence Stephens completes £5 million commercial bridging loan
Lawrence Stephens’ Real Estate Finance team has completed a £5 million commercial bridging loan on behalf of long-standing client, Lendhub.
The bridging loan is intended to facilitate the refinance of a commercial premises with planning permission to convert into residential dwellings.
The multi-million-pound transaction was led by Senior Director, Gregory Palos, with support from Associates, Kimberley Clift and Aashay Knights, who turned around the deal in a little over 3 weeks from instruction.
The pace of the transaction and attention to detail delivered by the Lawrence Stephens team throughout resulted in an excellent result for Lendhub, who were delighted with the outcome.
Gregory Palos, Senior Director and Head of Real Estate Finance and Banking, comments:
“It’s been a pleasure to have completed this significant deal for our friends at Lendhub.
This transaction adds considerable value to Lendhub’s strong loan book and we are delighted to be acting for this increasingly successful lender.”
Asim Shirwani, Chief Commercial Officer at Lendhub, comments:
“I’d like to extend my thanks to Greg and the Lawrence Stephens team for their continued hard work in helping us get significant deals like this one over the line.
Their legal knowledge paired with our expertise in the bridging sector has resulted in our client receiving the funds they need quickly and efficiently. Great work all around.”