
Bridge
Refurbishment bridge for central London apartment block
loan amount £1,600,000
gearing 80% LTV
structure BRIDGE
asset class RESIDENTIAL
Karis raised £1.6m to allow this property investor to carry out improvement works on a block of 7 residential apartments in central London. This loan also allowed them to buy out the two other shareholders and pay off the existing debt. Once the extensive refurbishment is completed, Karis will be refinancing the bridging loan onto a long-term facility where the client will then benefit from an increased yield on the annual rent.