Senior loan facility for an office to residential conversion
Avamore Capital has underwritten a senior loan facility to a property developer based in London. The loan would release equity which is going to be used in other residential development project and will also cover the build costs to convert the security which is an existing office to a residential apartment. With LTV 75% and two weeks drawdown we have proved to be a preferred partner when speed and delivery are required. Avamore Capital received the requirement and agreed terms with the developer over the course of few hours, and funds have been ready for drawdown in three days after acceptance of terms.