Zorin Finance, the alternative property lending specialist, has completed a £30m loan, secured against a historic hotel set within the prime location of St Helier, Jersey.
The purpose of the 36-month facility was to refinance the borrower’s existing debt. The transaction is a continuation of Zorin’s strategy of expanding into the investment loan market, focusing on commercial and residential assets across the British Isles.
With a highly experienced management team, the long-established hotel has an exceptional track record and position in a strong market and performs at the top of its competitor set in terms of occupancy and ADR. It is well known to both international travellers and locals as a popular leisure destination, with large open terraces, restaurant, an indoor pool, and spa facilities.
Zorin’s investment loans are available for up to 5 years with max LTVs ranging from 60% to 75% depending on asset class, and with loan sizes between £2m – £150m. Flexible debt structuring allows for servicing via a combination of interest current and PIK.