Hilco Provides £3.9MM ($5.2MM) Development Exit Loan Against London Petrol Station

Specialist bridge lender Hilco Real Estate Finance (HREF) completed a development exit loan of £3.9 ($5.2) million secured against a new build petrol station located in South East London. The loan, delivered at 70% net LTV, is secured against an asset that will have a strong tenant._x000D_
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“Loans against specialist assets such as petrol stations can have their challenges; however, the experience of our team here at HREF means that we are able to take a flexible and sensible approach and deal effectively with these types of unusual scenarios,” Steve Allen, business development director for HREF, said._x000D_
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HREF was advised on the transaction by Graham & Sibbald surveyors and Lawrence Stephens Solicitors.