Chelsea Reach was one of the longest deals we worked on because it required a specific type of funding from banks which is not very popular with most of the financial institutions. In addition, we had an additional constraint from the client, that the debt had to be Sharia compliant.
So although the all the terms were agreed with the vendor, we had a big question mark around funding. As such, we were able to leverage our network and secure 2 year Bridge Financing from one the top Sharia compliant institution at a competitive rate. The deal depended very much on us getting the finance in place. Our reputation with the sellers (and the representatives) is extremely important for us, so this relationship had to be managed over an 8-month period.
