Paragon provided a facility to the client against an unbonded shopping centre he owned in a different entity. The client used the facility to successfully reduce the bank’s exposure, allowing the partner to exit and the client to keep the property. The client will exit the facility by refinancing the shopping centre with a commercial bank.
Paragon setup a bridging facility for the client against the units already sold but not yet transferred, allowing the client access to funds which was used to complete further units.
Sep 7 2016
The investment property sector decreased in 2014 by 3 percent compared to 2013. Gary Palmer, CEO of Paragon Lending Solutions attributes this to the increasing amount of property finance applications that are being declined by commercial banks due to the stringent lending regulations which they need to adhere to. He joins CNBC Africa for more. View interview…