We helped a higher education organisation to expand their portfolio by acquiring an additional teaching building in the West End of London.
The opportunity to purchase the 9,351 sq ft building and become an owner-occupier arose after the client had rented the building for a number of years.
The client was looking for £5.3m on a capital interest basis, and with four existing properties financed through InterBay, they knew we had the expert knowledge needed for the deal.
They spoke to Mo Parmar, Specialist Finance Account Manager (SFAM), who used his specialist experience to structure their commercial deal over a 25-year term.
Marc Callaghan, Head of Commercial Lending, InterBay said “Having worked with Nick and the team at Fortune Finance to support the client’s previous lending requirements, we had a deep understanding of their aspirations and specific needs - we were delighted to help with this addition to their portfolio. This case is another great example of how we can support a wide range of owner-occupier cases within the commercial arena.”
Nick Sedgwick, Sales Director, Fortune Finance said “We’d like to thank InterBay and their fantastic team for working in partnership with us on a significant number of purchases and remortgages of higher education campuses across the country in what is an incredibly challenging time for universities.
InterBay is our number one choice for any commercial lending at Fortune Finance, and we look forward to sharing a bright future in collaboration.”