Avamore Capital, the private principal bridging lender, has structured a bridging loan in Chelsea SW3 for a client of Arc & Co. The loan was to refinance an existing lender, whose facility had come to an end. The £750,000 facility was structured with Avamore taking a first charge and a trusted junior lending partner of Avamore taking a second charge, ensuring the borrower could get the leverage they needed to refinance.
Edward Horn-Smith of Arc & Co brokered the business said: “Avamore worked hard with a tight deadline to deliver what the client needed, in terms of leverage and timeframe. This is the second-high LTV structured deal Avamore has done for Arc & Co in the last couple of months and we have enjoyed working together”.
Michael Dean, Principal of Avamore Capital said: “We were delighted to assist Edward at Arc & Co in delivering the solution their client needed. We have shown again that we add value to clients both in the levels of service we can bring to the clients by being quick, responsive, and cost effective but also in structuring deals that many others in the market would struggle to deliver. We look forward to working with Arc & Co again very soon, we need partners like them to achieve our £50m annual target, which we are on target to achieve”.
Naomi Williams and Michael De La Fuente at Banks Kelly Solicitors represented the borrower.
Daniel Fireman and Numan Sultan from Howard Kennedy represented Avamore Capital.
Notes to Editors
Avamore Capital is a special situations lender that provides loans to property traders, property developers, property investors, and other property entrepreneurs. Loan sizes are between £0.5m and £7m with larger loans possible in conjunction with its partners. Avamore Capital provides a flexible approach, quick feedback and very fast drawdown, subject to due diligence.