An individual had big plans to acquire 149 tenanted properties in Blackpool, UK, but their efforts were met with roadblocks. Despite the properties having existing long-term tenant leases and positive cash flows, the individual was unable to secure a loan from traditional banks due to their lack of prior track record.

With time running out and the deal hanging in the balance, the individual reached out to Rikvin Capital for help. Rikvin Capital evaluated the cash flow of the current properties and saw the potential for success. They decided to provide the loan to complete the deal.

Thanks to the funding provided by Rikvin Capital, the individual was now able to apply for a loan with the banks by showing a proven track record. This experience taught the individual the importance of having a financial partner who was willing to take a chance on them and their vision. They were grateful for the support from Rikvin Capital and were excited to take their property portfolio to the next level.

Problem

• An Individual was looking to obtain a loan from banks to finance its acquisition of 149 tenanted properties.
• However, due to no prior track record, the banks turned down the loan despite the properties having existing long-term tenant leases and positive cash flows.

Solution

• By evaluating the cash flow of the current properties, Rikvin Capital was able to provide the loan to complete the deal.
• Due to the funding provided by Rikvin Capital, the client will now be able to apply for a loan with the banks by showing a proven track record.

Related: Read about when Rikvin Capital refinanced a residential bridging loan in London

Location	Blackpool, United Kingdom
Market Value	£6,250,000
Loan Amount	£5,000,000
Loan-to-Value	80%
Duration of Loan	12 Months
Payment Schedule	Monthly Interest Payment
Asset Type	Mixed Portfolio of Properties
Completion Time	21 Days