October 27th, 2016
2XL Commercial is delighted to share with you a recent refinance of a large 46 bed student block in St. Marks Road, Nottingham.
Located 5 minutes walk from the City Centre and Nottingham Trent University, Six Degrees Nottingham offers superb, stylish, modern accommodation. Constructed to the highest standards with modern architectural styling provides the best in secure and vibrant student accommodation. This prestigious student property based in the City had previously been financed using a second tier lender and it was the job of Steve Brown of 2XL Commercial Finance to see if he could improve on the rates and also provide a tranche of additional funding – Steve commented:
“It was a fantastic opportunity for me and 2XL to assist the client, Taj Ubhi with the re-finance of his purpose-built student accommodation based in Nottingham. He is a superb and experienced operator in this sector and the property asset itself is of the highest quality in a prime location. The new finance package will provide significantly lower future interest costs whilst creating instant headroom for other projects. I look forward to working with Taj on other schemes”
The client was obviously delighted and commented:
“I have known Steve Brown at 2XL for some time and have used his knowledge of the market and expertise previously on other transactions. The deal he recently sourced and completed for me was done professionally and diligently and the re-finance package he put together with a new lender for some of my student property has extremely attractive terms which will save my business significant interest costs going forward.
The most important part was creating headroom in another facility which accommodated two multi-million pound deals and also negotiating a reduced redemption penalty with the existing lender which saved tens of thousands of pounds. We continue to work together on other development and finance packages and I have recommended Steve to others”