Our client is purchasing a large retail distribution centre in the Midlands. The building is 4 years old and has a AAA covenant. Our client is seeking a £10m mezzanine facility to sit on top of a 65% senior facility taking the combined facility to 82% LTV.
Investment amount: £10 million
Coupon: 14% + 20% Equity stake
Term: 10 years
Description: Retail distribution centre located in the Midlands.
Purchase price: £58.8m (8.5% yield)
Rent roll: £5m with £2.3m surplus to service the mezzanine.
Area: 700,000 sq ft
Lease: 25 years, 21 years unexpired.
Security: second charge on the asset (82% LTV)
Contact: Tim Mycock (tim@redchilli.com / 020 7780 6565)
For more detailed information on all the current opportunities
download the full PDF document below.
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For more information on these or any other details please contact us at 0845 210 5000 or info@redchilli.com
Red Chilli Structured Finance, Minories House, 2-5 Minories,
London EC3N 1BJ,
United Kingdom
