Mezzanine Finance
Cardiff, South Wales
- Sonic provided a £300K net Mezzanine facility to support the developer with the refinance of the existing lender and to enable development funding to be released by the senior lender
- The Borrower is an experienced Cardiff based developer
- The Development will consist of new build apartments and underground parking
- LTV 70%
- Term 18 months
Mezzanine Finance
Ipswich, Suffolk
- Sonic provided a £800K net Mezzanine facility to enable the refinance and lease up on income producing office building in Ipswich
- The building was part occupied part vacant at the time of completion
- The borrower is an established real estate investment company
- LTV 69%
- Term 15 months
- The property is now under offer
Mezzanine Finance
Sutton Coldfield, West Midlands
- Sonic provided a £500K net Mezzanine facility to an existing client on a near completed development, this allowed the client to replace their existing more expensive Mezzanine provider.
- Established developer
- LTV 73%
- Term 18 months
- Repeat Borrower
Development Loan
Falmouth, Cornwall
- Sonic provided a £650K senior facility for the acquisition and Development of 2 bungalows
- The developer was repeat borrower who had recently repaid a Sonic mezzanine facility
- The facility started as an acquisition bridge and converted to a development loan upon receipt of planning permission
- LTV 63%
- Term 18 months
Bridging Fianance
Meath Green, Surrey
- Sonic provided a Mezzanine loan on the development of 8 houses in Surrey
- After practical completion and the first unit sales Sonic refinance the remainder of the senior facility
- The borrower was provided with 12-month facility to sell the remaining units
- The overall leverage of the sales bridge was 40% LTV
