The sponsor is an established ultra-high-net-worth family trust with a longstanding portfolio of prime Central London residential assets. The portfolio included a substantial freehold townhouse in Knightsbridge and two large flats within prestigious managed buildings in the same area, collectively totalling approximately 17,600 sq ft and valued at £24.5m on an open market basis.

A time-critical inheritance tax liability had arisen in connection with related entities within the trust structure. The funds were required quickly, and the trust’s asset-heavy, income-light profile made engagement with conventional lenders unworkable, standard affordability and serviceability assessments could not accommodate the nature of the borrower.

The sponsor needed a lender capable of assessing the transaction on its fundamentals: the strength and quality of the underlying assets, the substance of the trust behind the borrowing, and the clarity of the repayment strategy.

The principal challenge was one of speed and structure. Inheritance tax deadlines are fixed, the liability could not wait for a conventional credit process, and the timeframes associated with high-street lending made that route impractical from the outset.

Beyond timing, the borrower profile presented structural complexity. The properties were held across multiple entities within the trust, each requiring appropriate security documentation. The corporate structure involved an offshore holding company alongside associated entities who would be jointly and severally liable, requiring careful coordination across legal counterparties and managing agents to progress the transaction.

The managing agent information required to satisfy due diligence on the leasehold assets needed active chasing and coordination throughout the process. Cohort’s team worked directly with all parties to keep the transaction on track and ensure nothing delayed completion.

The Knightsbridge bridge loan facility was secured against a cross-collateralised portfolio of three prime Central London residential assets, providing strong downside protection at a conservative blended LTV.

Cohort Capital assessed this transaction on its fundamentals. The borrower’s profile, an ultra-high-net-worth family trust with a substantial portfolio of prime Central London assets and a clear, credible repayment strategy via refinance, was well suited to Cohort’s approach. The absence of conventional income was not a barrier; the quality and liquidity of the security portfolio provided the necessary confidence.

In the high-net-worth sector, challenges are often more nuanced. Borrowers of this nature do not fit standard lending templates, and the complexity here sat with the borrower structure rather than the asset quality. Cohort’s experience across complex, cross-entity transactions meant the team understood what was required and could move accordingly.

Throughout the process, Cohort’s team took an active, hands-on role, coordinating directly with legal counterparties and chasing managing agent information at critical points to keep the transaction progressing. This kind of operational involvement is not something every lender is willing or equipped to provide, but it was essential to completing within the required window.

The repayment strategy is straightforward: refinance onto long-term facilities at the end of the loan term. With three income-generating prime London assets as security, a well-defined exit and a sponsor of significant substance, the transaction presented a compelling and well-protected lending opportunity.