Scenario
The borrower was looking to refinance their existing development facility and implement a new asset management strategy, including appointing a new managing agent.

Although the scheme was high quality, it was in a transitional stage with occupancy still ramping up, making flexibility essential.

Challenge

• Newly completed PBSA asset

• Temporary under-occupancy

• Income growth projected, not yet fully realised

Traditional funding routes were constrained by short-term income metrics, despite a clear and credible business plan.

Solution
We structured the facility over a two-year term, with a bespoke interest structure aligned to projected letting uplifts.

Our underwriting focused on the asset’s forward trajectory, not just its current income profile, ensuring the facility supported the borrower’s operational plan.

Outcome
This structure gives the borrower the time and flexibility to:

• Embed new management

• Increase occupancy

• Enhance rental income

• Drive the asset to full stabilisation.