Introduced by a broker, our client is a high-net-worth entrepreneur and investor. He has an internationally based client but happened to, at the time of buying a property, not have a fixed residence in the specific jurisdiction which made getting traditional finance a challenge.
He had agreed to purchase a property in a European country valued at €12m. To add to the fun, the property was to be purchased via a complex structure, in order to maximise the efficiency of the purchase.
We advanced a loan of €7m on a 12-month term. We secured the loan with a 1st ranking charge over the property, guarantees from the structures and a personal guarantee from the borrower. Once the property was purchased he would easily be able to source a local term mortgage to repay our loan.
This showcases the complexity which we are able to handle, the case required a symphony of advisers, lawyers and other professionals in multiple countries to all pull in the same direction to deliver the outcome.
Complex yes, fast no, innovative – absolutely.