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£1.5m bridge provided to offshore borrower to refinance commercial premises in Mayfair (London)

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TWM acted for Brydg Capital Limited, and its syndicated participants, in relation to a short term loan to a commercial premises in Mayfair.

The loan, a £1.5m bridge, was to a Delaware (US) registered company which had to be underwritten alongside the property as security. The property was split commercial and residential with planning for whole residential use, but is currently subject to a held over commercial lease. There were a number of latent title defects not remedied in previous lending and TWM worked with its title insurance providers to ensure the lender was covered during its loan term.

Headquartered in Chelsea Harbour, London, Brydg provides short-term, property-linked finance. Applications for finance are submitted online to Brydg 24/7.

The TWM team who worked on the deal were Julian Sampson, Partner and Head of Lending, and David Powell, Associate in Business Law.

Julian Sampson, Head of Lending at TWM, said: "Brydg is a genuinely innovative platform, and it is very exciting to be working alongside it on its initial growth as we develop its track record of delivering in highly complex lending situations."

For more information, please contact Julian Sampson by telephone: 01483 752734

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