Arc & Co. are pleased to announce the completion of 2 loans for an existing client totalling £13.5 million; with the requirement that both loans completed simultaneously.
The loans comprised a £10.5 million loan provided by Brydg Capital and a £3 million loan provided by Ortus Secured Finance.
Brydg Capital provided a £10.5 million loan for the redevelopment of a warehouse building in E1, London, to create 15 apartments with commercial space on both the ground and lower ground levels.
Brydg Capital agreed on the loan terms prior to the Covid-19 pandemic taking hold and didn’t amend the terms in any way, despite the widespread changes to market conditions.
Ortus Secured Finance provided a £3 million exit bridge loan for a completed development in WC1, Central London. The development comprises 13 apartments, 2 houses and 2 office blocks, with all parts now sold bar 3 residential units.
Ortus Secured Finance completed on the loan in 10 working days – an impressive achievement given the current market conditions resulting from the Covid-19 pandemic.
“Edward Horn-Smith – Managing Director of Arc & Co.’s Strucured Finance team comments:
“I am delighted that we have been able to complete on these two loans and deliver the solutions required by the client. What is most impressive is the team behind these two loans – comprising a number of experienced and well qualified lenders, lawyers and trust companies, all being able to work seamlessly to the point of completion whilst working remotely from home. The ability to complete on the loans in these current market conditions is testament to the two lenders and their unfaltering commitment throughout.””
Edward Horn-Smith - Managing Director of Arc & Co. Structured Finance
“Daniel Bendavid – Managing Director of Brydg Capital commented: “We are proud to be able to support our clients in these uncertain times with the help of our trusted relationships, like Ed at Arc & Co.””
“Jon Salisbury– Managing Director of Ortus Secured Finance commented: “We are always delighted to work with Arc & Co and they are a hugely impressive outfit. The Covid-19 situation presented a few interesting challenges, but with Ed’s help and the support of our professional panel, we still managed to deliver a great borrower experience.””
About Brydg Capital
Brydg is a new generation lender and they provide short term, property-linked funding. As a brand, they are committed to providing bridge financing with transparency and speed attached to it and rated as a trusted partner in property finance. Brydg are serious about their commitment to responsible lending and put their customers at the heart of what they do.
About Ortus Secured Finance
Ortus Secured Finance are an award-winning commercial lender based in central London with offices in Belfast and Manchester and were founded in 2013. Operating throughout the UK, Ortus provide loans from £100k to £25 million with interest rates from 7.8% p.a and terms of up to 3 years. Ortus are happy to lend into a wide range of sectors including residential investment property, commercial (including mixed use) and leisure businesses such as pubs and hotels.