Specialist debt advisor Arc & Co. has arranged a new £2.34 million development finance package with West One and LDS Sales Guarantees to fund the construction of five luxury homes in Buckinghamshire.
The facility has been provided to a private client of Arc & Co. at an LTV of 70%. West One is the senior lender, with LDS providing a sales guarantee with a 10% cash deposit release to reduce the developers day one equity contribution. The facility was arranged within four weeks of initial enquiry, enabling the client to secure the site in record time.
Oliver Holden, senior broker at Arc & Co., said: “The structure of this facility and the timelines involved made this a complex deal to finalise, but both West One and LDS were excellent to deal with, going above and beyond to complete the package within four weeks of initial enquiry. The borrower is a repeat client of Arc & Co, and we look forward to seeing the completed homes and working with them on future projects.”
Chris Fortune, Relationship Director at LDS, said: “This is our third deal in quick succession with West One as our Sales Guarantee: senior debt combination gains traction across the market. Arc & Co oiled the wheels expertly to enable a quick completion and we look forward to working with Ollie and team again soon.”
Dan Alfano, Senior Portfolio Manager at West One, said: “This was an extremely time sensitive transaction which wouldn’t have been possible without the expert assistance of Arc & Co. We are very pleased to continue building on an established relationship with Arc & Co and LDS and look forward to completing more deals in the future.”
The Arc & Co. Group is a specialist asset finance advisory company based in Fitzrovia, London. Its three divisions – real estate, marine and aviation – allow it to provide specialist advice across a range of financing solutions, including senior debt, equity, leasing and mortgages.