Example of a Secured 1st Charge Loan: PM SPV 77

Example of a Secured 1st Charge Loan running alongside a Development Equity Joint Venture

Low Friar Street, Newcastle, NE1 5UF

This two-bedroom apartment located in the heart of Newcastle Town Centre and was sourced in-house. The property was secured below market value and required very minimal works, however, it did undergo a deep clean and a light re-decoration to bring the apartment up to a sellable standard for the strong local sales market.

The opportunity was presented on the Property Moose platform in two offerings. The first being the equity element, where investors funded the equity in return for a JV (Joint Venture) split in the development profit. The remainder of funds required for the acquisition were invested by a fixed 7% net p.a. return 1st charge loan note, also funded by members of Property Moose.

A sale to an overseas cash investment buyer was secured and the loan note was fully redeemed along with the 7% net p.a. coupon and the JV equity holders also received back their funds plus their share of the development profit.

The project exceeded projected returns.

Past performance is not a reliable indicator of future performance. Capital at risk.