The six-month bridge was provided to a limited company where the owners were trustees of a UK Trust and needed to refinance an existing mortgage from a private bank.
The case was introduced by Malcolm Scanlon at Zion Specialist Finance.
Glenhawk received legal advice from Wilson McKendrick for the refinance and law firm Brechers acted on behalf of the UK Trust. The loan was completed in six weeks.
Nick Hilton, managing director at Glenhawk (pictured), said: “Growing our footprint outside of the South East is a strategic priority for Glenhawk in 2021 and with the infrastructure now in place, we look forward to building on this milestone.
“We were able to take a cross-jurisdictional loan and turn it around in a short space of time, saving the borrower time and hassle and demonstrating the critical role that specialist lenders play in the UK real estate ecosystem.”
Malcolm Scanlon, lending director at Zion Specialist Finance, added: “Glenhawk demonstrated its expertise and professionalism right from the outset, agreeing the initial terms in a very short space of time, despite the loan size and location of the asset.
“The team was very quickly able to get comfortable with the structure required to fund the deal with the UK Trust in place, ensuring they used two sets of solicitors to cover the location of the asset and the trust which fell under English law. Led by Amy Wareham and Peter Turner, the whole Glenhawk team played their part in ensuring this deal was brought to completion.”