United Trust Bank Provides £ 5.3million Funding to Apex Capital Partners for South London Site
United Trust Bank (UTB) financed the acquisition of two light industrial premises as part of a to place Assembly plan through Mountain peak Capital city The partners that could lead at the creation of 156 new apartments in the south London.
Mountain peak Capital city The partners is a private equity property manager founded in 2019 by experienced developers Paul Benardout and Jonathan Kor. The company is focused on the acquisition, development, asset management and exploitation of opportunity assets in the Greater London, using its experience and repositioning strategies at produce more Capital city values.
Laurence Foux from Business Finance 1st Ltd, contacted UTB on behalf of Mountain peak Capital city The partners in June 2020 at finance the purchase of an industrial warehouse in the center of the Old Kent Road Opportunity Zone which Mountain peak believed to have potential for redevelopment. With UTB funding this acquisition, Mountain peak spent the next six months negotiating with the owners of two adjoining light industrial premises with a view to at assemble a mixed-use residential program. Without planning in place, Mountain peak wish at finance the purchase of both to places based on their business values and subsequently add significant value by pursuing a planning app at create 156 new homes in three new apartment buildings with commercial space on the ground floor.
UTB’s structured finance team joined the project and quickly appraised the three properties, which were fully leased, and offered a new £ 5.33million facility which included the refinancing of the first property acquired. through Mountain peak in June 2020. UTB moved the proposal forward quickly and although blocking the pandemic in early 2021 posed additional challenges, the proposal moved from credit approval at removal from installations in just over three weeks.
Paul Benardout, director of Mountain peak Capital city The partners, mentionned: “I am very excited about this project and I was delighted with the support from UTB at Dated. Their approach was refreshing. Rather than simply considering acquisitions as one-off transactions, they were interested in our business, our ambitions for the future and how they might support our moving growth forroom. This, combined with their speed and efficiency in delivering what we needed, gave me confidence in building a long term relationship with a funding partner who understood Mountain peak and what we wish at acheive. I hope this will be the first of many successful collaborations with UTB. “