21st January, London – Lawrence Stephens has helped Whitehall Capital complete a bridging loan worth three quarters of a million pounds for a portfolio of Birmingham flats, announced today.
Lawrence Stephens helped the privately funded specialist loan provider complete a £750,000 loan for three, three-storey properties in a single terrace in Little Switzerland, Birmingham. The loan is being provided at a 1% per month interest rate for a length of 12 months.
Anthony Bodenstein, CEO of Whitehall Capital commented:
“I’m very pleased to kick off the new year with the completion of another loan in Birmingham. As this property is a House of Multiple Occupation (‘HMO’), it came with added challenges and wasn’t the most straightforward from a legal perspective, therefore I’d very much like to extend my thanks Lawrence Stephens Solicitors, especially to Avi Barr, a Partner at the Secured Lending Department, and to Nishta Camiah, Associate Solicitor, both of whom were particularly efficient and skilled in their work.
“I look forward to ushering in another year of growth and adding to our existing loan book that has delivered double-digit returns by targeting professional and established real estate investors and developers with a proven track record and with loans secured against properties primarily valued between £1m and £10m and deemed as being low risk.”
Avi Barr, Real Estate Partner at Lawrence Stephens commented:
“It has been a pleasure working with Anthony and the whole team at Whitehall Capital and I’m delighted that this loan has completed so successfully and that any legal complexities could be smoothly and efficiently dealt with. The fact our Secured Lending & Real Estate Departments act for both lenders and borrowers across the broad spectrum of loans and sectors means we have a 360° view of any deal allowing any issues to be quickly addressed.”
This latest loan adds to the wealth of experience the Lawrence Stephens team has working with high value properties. Avi has recently acted for Whitehall on a £1.37 million residential bridging deal in Peterborough and a £2.24 million bridge loan covering a portfolio of properties in London and Surrey. Associate Solicitor Nishta Camiah has recently acted for a lender in relation to a bridging loan of £2 million, secured over a portfolio of properties.