Arc & Co. Structured Finance completed seven bridging loans totalling almost £29.6M in October, representing its best month ever for bridging.
In total, the specialist debt advisory arranged 11 loans during the month, with the remaining four completions being development-based, with the overall loan amount totalling over £47m.
The average loan size for October stood at £4.5m.
Andrew Robinson, CEO at Arc & Co (pictured below), suggested that the figure could be attributed to the “uncertainty” currently attached to the specialist commercial and development lending options available in the market.
“Clients above all want completion certainty in a deal and with senior lenders being more cautious in this market, clients are using bridging to secure their purchases, which then allows time to asses all senior lending options to make sure the correct funding package is in place.
“Another point to add, is that out of the 11 loan completions, eight different lenders were used.
“A wide range of lenders were required because of the geographical spread and the speciality requirements of the loans.”
Arc & Co recently secured a £9m senior bridging loan with West One Loans against a vacant office building in London valued at £14m.
The debt advisory also recently appointed Matthew Yassin and Charlie Gordon to its team.
