The lenders funded $750,000 for the South Beach villa — the final tranche on a $12m beach front property development — with security taken across a London BTL property.
The one-year facility, agreed at 30% LTV, will be repaid via the sale of the villa.
The second deal at £560,000 was for the refinancing of an Essex HMO, which will be transferred into a nursing home.
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The facility was agreed at 70% LTV, over an 18-month term and was used to bridge the transition of the property — allowing flexibility for the client’s plans to be delivered on time.
The borrower will use refinance to pay back the loan.
Commenting on the Miami deal, Paul Munford, CEO of Century Capital, said: “This was a repeat client of ours who was delighted with the five-day turnaround — especially as he had an open day for 150 real estate agents on completion at the end of the month.”
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