United Trust Bank (UTB) Structured Property Finance was approached to assist with the funding of a share transfer of a company which wholly owned two subsidiaries, with one property held in each.
Our borrower was a family-owned investment business with two equal shareholders, one of which had a professional relationship with the vendor for around 40 years as employee and consultant. Due to the restructuring of a series of joint venture projects, the opportunity to wholly purchase the two properties via a share transfer became possible and due to the complex nature of the transaction the purchaser was recommended UTB by their solicitors.
UTB was able to provide a 3-year residential investment loan of £2.8m including fees which together with a £1m cash injection from the borrower was sufficient to settle the existing debts on both properties once the share transfer was complete.
| Borrower | Private Landlord |
| Amount | £2.8 million |
| Loan Type | Residential Investment |
| Location | Greater London |
| Term | 36 months |
| Loan Purpose | Acquisition of business owning two residential rental properties |
| Special Features | Complex ownership structure Grade 2 listed building |