Albatross Lending Group has closed a £1.52m gross bridging facility secured on three commercial sites in Somerset, according to the lender’s announcement.
Deal structure and collateral
The loan, priced at 61% loan‑to‑value against a combined market valuation of £2,475,000, runs for 12 months with interest serviced throughout the term. The security package includes a multi‑let industrial estate, a public house with residential accommodation above, and a mixed‑use high‑street property.
The borrower, a commercial property company, is arranging a term refinance of the portfolio. The bridge loan provides the cash needed while title and compliance matters are being resolved.
Legal due diligence uncovered historic third‑party restrictions, defects in the registered title related to access and service media, and missing compliance documentation. Albatross addressed several of these issues before completion and set the remaining items as conditions subsequent, with deadlines starting from drawdown.
Comments from Albatross executives
“Three titles, three different sets of issues, and a borrower who needed to move before all of them were tidy,” said Nils Raber, associate director at Albatross Lending Group. “What the broker wanted was a lender who would actually work through the detail rather than reprice at the last minute, and that’s the part we’re good at.”
Craig Reiselson, senior underwriter, noted, “This deal needed pragmatism and commercial thinking more than anything else. Three commercial units with layered issues, old overage agreements, building regs, access and EPC problems, that needed working through rather than walking away from.”
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He emphasized experience.
He added, “It’s exactly the kind of case our years of experience in bridging has prepared us for. We understand property, we understand people, and we understand lending, and that’s what let us find a structure that worked for everyone, including agreeing no PG for one of the guarantors.”
Lewis Casserley, co‑founder and principal, said, “Cases like this sit comfortably within the commercial book now – three assets, imperfect legal title, a guarantee structure built to fit. It’s a side of the business fewer brokers see.”
The loan matures in a year.
Albatross will monitor the arrangement over the year, working with the owner to satisfy the outstanding conditions before the portfolio is refinanced.
Overall, the transaction showcases how targeted bridge financing can resolve multi‑title complexities without resorting to punitive pricing, allowing commercial owners to move forward with redevelopment or refinancing plans.
