Hilco Real Estate Finance (HREF) has completed a £7.6m bridging loan against two industrial assets totalling 75,500 sq ft in Hoddesdon, Hertfordshire.
The 18-month facility will be used to refinance an existing loan, enabling the private investor to undertake a comprehensive rent review process with the occupier to bring rental income in line with current market levels.
Charlie Job, director at HREF, said: “This transaction highlights HREF’s ability to move quickly and deliver flexible capital solutions for experienced borrowers. The facility is secured against two well-located industrial assets in an established South East distribution market and provides the borrower with the time and certainty needed to perform some asset management and then progress its longer-term refinancing strategy. We are pleased to have supported a returning borrower and look forward to seeing the business plan delivered.”
