We were approached to assist the client with the purchase of a luxurious villa in a prestigious golf resort approx. one hour away from Barcelona. The intention was the property would be purchased by an already existing UK company which in turn would become our Borrower. This was ideal for Tenn Capital as it is a structure we would recommend for these types of property purchases and one we are used to working with.
In addition to taking a first legal charge over the property, we also took a charge over the shares of the UK company as well as personal guarantees from the UBO’s.
As with all our cross-jurisdictional transactions, the Tenn team, led the facilitation of the deal working with various third parties in each location providing support and assurances which enabled the completion and purchase to take place. The overall Loan to Value ratio on this transaction came in at 60%.