Alpha Property Lending has completed a £7m development exit loan for a newly completed development of 8 houses and 2 apartments in East London.
Alpha Property Lending provided a fixed rate loan, giving the Borrower certainty in a volatile interest rate market.
The loan was used to repay development finance and will enable the developer time to sell the properties. One of the properties had exchanged pre-funding and three others were under offer.
Edward Horn-Smith, Managing Director at Arc & Co. says,
“Arc & Co were instructed by an existing client to source competitively priced fixed rate debt. After a short tender process we identified Alpha Property Lending as the best funding partner. From instruction they were quick, professional and transparent.”
Mert Zabci, Lending Director at Alpha Property Lending says,
“Alpha Property Lending are pleased to have worked with Arc & Co as well as a Borrower which has a clear focus on ESG, having built carbon negative residential units with intricate design and sustainability considerations. This is our first completion with this Borrower and future schemes are already under discussion.”