- Middle Eastern entrepreneur with international business interests
- Prime mixed-use commercial property in London
- Circa £12 million refinance at approximately 50% loan-to-value
A Middle Eastern entrepreneur with a global business portfolio approached Enness Global to refinance an existing facility secured against a prime mixed-use commercial property located in Central London. The objective was to replace an existing loan of approximately £7 million while increasing leverage to 50% loan-to-value in order to release additional capital for international investment opportunities.
The property, held through an offshore special purpose vehicle, featured a high-quality tenant mix and established commercial occupiers with long-term lease covenants. However, the transaction presented several complexities, including the offshore ownership structure, the borrower’s international residency, and the relatively large single-asset exposure. In addition, a recent tenant transition required careful positioning of the property’s covenant strength during underwriting.
Enness Global sourced a circa £12 million interest-only facility through a specialist lender experienced in complex commercial real estate transactions. The loan was structured at approximately 50% loan-to-value on a floating-rate basis, with a three-year term and a two-year extension option to provide flexibility.
The retained interest structure helped preserve liquidity while ensuring efficient capital management. The refinance successfully replaced the existing debt, increased leverage, and released capital for the client’s broader investment strategy while maintaining flexibility for future portfolio decisions.
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