"Successfully delivering a complex deal like this isn’t magic, it is experience"
- Paul Gavin - Alternative Bridging Corporation
Alternative Bridging Corporation has completed a £4.5m finance package for a longstanding client, structuring the deal as three separate facilities to refinance and fund a diverse mix of assets across the North of England.
The borrower sought funding for both commercial and residential properties. This included the refinance of an existing commercial bridging loan backed by multiple investment assets, a development exit facility for a residential scheme, and funding for a pre-let retail and office investment.
Rather than viewing the complexities as a barrier, Alternative Bridging approached the deal by splitting the overall requirement into individual components. Each facility was tailored to a specific need, enabling the firm to provide a consolidated funding solution that addressed the full scope of the client’s requirements.
This transaction adds to a series of recent developments for Alternative Bridging Corporation. These include updates to its commercial bridging offering, allowing greater flexibility for mixed-use and semi-commercial properties, and the acquisition of a £150 million funding line to support continued growth in its residential bridging portfolio.
“Successfully delivering a complex deal like this isn’t magic, it is experience," comments head of sales at Alternative Bridging Corporation, Paul Gavin (pictured). "We sat down with the client to fully understand what was needed, then identified how we could split the requirement into three straightforward loans. We agreed terms quickly, obtained updated valuations where needed, and moved to issue the individual loan offers.
"From there, our underwriting team worked closely with our legal partners and the client’s solicitors to deliver each element smoothly. The result was a delighted client and a broker who we’re proud to continue supporting.”
