REIM Capital has successfully finalized a €16.4m commercial loan for the acquisition of a mixed-use property in Croydon, South London. The property includes office spaces, retail units, and a 149-bed Travelodge hotel.
This financing solution was structured with a 12-month term and is intended to serve as a bridge until refinancing can be arranged on a long-term commercial basis. REIM Capital's agility and capability to navigate complex transactions were noteworthy, especially given the property's diverse composition and the international background of the borrowers.
Kunal Vaitha, co-founder and director of REIM Capital, said: “The loan had its challenges due to the complexity of the asset across multiple titles and the borrowers being international. We worked with our legal team to overcome any challenges and are very happy to have been able to complete a loan of this size for the high-net-worth borrowers.”
Image source - Pexels.
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