London:

Aldermore supports a client of BBS Capital with £33.5m facility

Aldermore Bank has provided a £33.5m, ten-year, part capital repayment, part interest only mixed portfolio facility to an established London-based family office. The predominant nature of the loan is residential but includes an element of well let commercial space.

Due to the complex ownership structure, a tailored facility was structured satisfying the needs of both the client and the lender.

Founded in 2003, BBS Capital is a boutique debt advisory business consistently delivering innovative and creative solutions across the entire capital structure in both the UK & Western Europe. BBS identify traditional and non-traditional capital sources for both domestic and international clients and are active across all sectors of the property market.

Joanne Barnett, Co-Founder at BBS Capital said: “It was a pleasure working with Aldermore on this transaction. The team quickly understood the challenges and delivered workable solutions to our client. We look forward to growing this relationship and working together on other transactions.”

Graham Ritchie, Head of Commercial Mortgages for the North at Aldermore, said: “This deal is a great example of Aldermore’s ability to raise capital for further property acquisition which the clients’ existing lender couldn’t do. This deal had a complex loan structure, but the quality of the introduction and the full hands-on involvement by BBS Capital really helped all parties, alongside our own legal firm, Gateleys and the borrowers’ legal firm NWL.”

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