Cohort Capital has completed a £12.4m bridging loan to enable the acquisition of a prime residential property in London’s Mayfair in just under 10 days.
The 12-month loan was secured against a prime property on Charles Street, which was being acquired for £20m. The nine-bed residence spans nearly 14,000 sq ft and boasts amenities such as a cinema, gym, wine cellar, and swimming pool.
The borrower sought Cohort Capital’s assistance after facing delays with their previous lender, which jeopardised the completion of the purchase. Cohort Capital provided the necessary funds in just under 10 days, giving the borrowers the time needed to complete the acquisition.
Matt Thame, co-founder of Cohort Capital, said: ‘Our ability to be flexible in situations such as these is what sets us apart. Unlike traditional lenders who are constrained by stringent due diligence processes and funding line controls, our access to discretionary capital allows us to make swift, independent decisions. We are ideally positioned to deploy capital into private credit transactions, particularly those underserved by flexible and experienced private capital. If you are facing similar challenges, we encourage you to reach out to us.”
