Eyewitness Works

LEXI is pleased to have successfully arranged a £18.3 million loan facility to support the delivery of a 97-unit residential scheme. The facility is structured over a two-year term with no early repayment charges (ERCs), providing our client with maximum flexibility.

Acting on behalf of our client, we proactively achieved the lender’s ICR targets at the earliest opportunity, facilitating the repayment of both senior and mezzanine facilities. Completion was structured to occur once a 1.0x ICR was achieved, with a portion of the facility retained in an account to meet the final 1.1x ICR covenant requirements.