StreamBank has provided a £1.5 million bridging loan to support the acquisition of a shopping centre in Peterlee, County Durham, in a transaction valued at £3 million.
The borrower, described as an experienced property investor, used the 12-month facility to address a remaining funding requirement after commercial finance covered most of the purchase price.
The bridge was secured against a residential property in Ashbourne, Derbyshire. The structure enabled the investor to draw on equity in an existing asset while completing the shopping centre deal.
Bridging finance can provide short-term capital where a purchaser has secured the bulk of acquisition funding but needs additional liquidity to meet a transaction timetable. Details of the facility were reported by Property Wire.
