Portfolio

In 2021 we supported a US based Middle Eastern family in acquiring a prime commercial property on the Fulham Road, West London. Despite a complex Delaware based structure and no UK footprint, Prospect Capital provided a £9.1m facility at 70% LTV to fund the purchase and provide time for our client to change use from retail to private medical, before refinancing with another family office prior to construction.

Unexpected delays and rising build costs created difficulties, which led to the incumbent lender, despite prior assurances, demanding repayment mid construction. The clients who have become firm friends with the Prospect Capital founders, asked for our assistance once again.

With fresh equity and oversight from our property division, we stepped in and provided a new facility in just three weeks over the festive period, shielding our client from lender pressures and legal challenges.
The project is now back on track and set for practical completion this year, with an estimated GDV of £24m.

“The journey with this client and particularly the 2nd transaction embodies the Prospect Capital approach and is something we are very proud of.

Prospect Capital is a highly commercial business, full of talented real estate, finance and legal professionals who are motivated and committed to do our very best for all its clients” – Denny Lane