Whitehall Capital completes £7m facility in landmark Canterbury deal

By Bridging Loan Directory 6th December 2023

Whitehall Lending, a premier UK bridging finance company, has announced the successful completion of a significant c. £7m million facility, secured against a commercial hospitality asset in the historic city of Canterbury.

This landmark deal underscores Whitehall Lending’s commitment to providing tailored financial solutions in the dynamic real estate market.

The deal structure required complex underwriting, with features of both asset and project finance transactions.

Structured finance techniques were used for debt sizing and risk mitigation controls, but without extensive timeframes and multi-layered decision making typical of traditional lenders.

This agility and creativity demonstrates Whitehall Lending’s USP – to be able to draw on a range of techniques to deploy capital quickly for our borrower, and safely for their investors.

The deal structure demanded intricate underwriting, combining elements from both asset and project finance markets.

It utilised structured finance techniques for debt sizing and implementing risk mitigation controls.

Anthony Bodenstein, Managing Director of Whitehall Lending, said:

“This significant £7 million facility has been made possible by the substantial new funding lines our company has secured over the last 12 months.

It exemplifies our commitment to the larger bridge loan sector, a segment of the market that is often underserved by mainstream bridge lenders.

This achievement reflects our ongoing effort to meet the evolving needs of our clients and to expand our footprint in the financial landscape.

We extend our deepest gratitude to our legal team at Fieldfisher, with special thanks to Jaclyn, Adam, Will, and Craig, for their exceptional expertise and dedication throughout this transaction. Their invaluable contribution was pivotal in the seamless execution of this deal.

Additionally, we acknowledge the instrumental role played by RCP Finance, a London-based, independent specialist in property finance and capital structuring with a global reach. RCP Finance’s hospitality expertise was crucial in advising this successful transaction.

Ruben Chicheportiche, Principal at RCP Finance commented:

“We are looking forward to closing more hospitality focused transactions in the UK and across Europe, where we are seeing an increased demand for hotel financing”.