Recognise Bank is pleased to announce the successful completion of a £1,500,000 bridging loan deal for David Samuel Properties, a prominent property investment and management company based in the North West.
The bridge loan facilitated the acquisition of a part-vacant modern office building situated on one of the premier business parks in Harrogate. Following the purchase, the borrower plans to let out the currently vacant suites before refinancing to a longer-term loan.
Utilising title indemnity insurance and using the VAS valuation panel manager, the deal swiftly progressed from credit approval to completion in just 28 days, demonstrating Recognise Bank’s commitment to expedient and efficient service.
Chris Stevens, Business Development Manager at Recognise Bank, expressed the team’s enthusiasm for establishing a relationship with David Samuel Properties stating, “We are delighted to partner with DSP on this investment. Their reputation and expertise in the property sector align with our commitment to supporting the very best regional property investors across Manchester and the North West.”
The Recognise team worked closely with Broker Gareth Rees of GDP Funding on this deal who commented, “This collaboration highlights the value of strong partnerships and efficient execution. Chris and his team performed brilliantly on this deal, exceeding our client’s expectations and we look forward to further collaborations with Recognise in the future.”
The borrower, David Samuel Properties, also endorsed Recognise Bank, stating: “We are delighted to have completed on this purchase and to have successfully concluded our first transaction with Recognise Bank. We are grateful to them and to our finance broker, GDP Funding, for their professionalism throughout the transaction and look forward to expanding our relationship on future deals.”
The completion of this deal underscores Recognise Bank’s dedication to speed, efficiency and importantly building strong relationships with businesses in the property sector.
