Collas Crill and Sancus BMS Group have completed an initial £6.4 million drawdown of a £10 million loan for the development and conversion of a residential property in Lambeth Road, London.
The 24-month loan will be repaid from the sale of the developed property or the refinancing of the loan.
Collas Crill acted for Sancus on the loan, whilst Sancus acted as facility agent and security trustee.
The Collas Crill team was led by Head of UK Real Estate Michael Morris, with Senior Associate Donald Millar advising the co-funders.
Sancus teams from both the UK and Jersey offices were involved in completing the credit and risk assessments, underwriting the loan and syndicating the loan out to Sancus co-funders.