Real estate finance advisory firm Arc & Co. has arranged a gross exit bridge of £4.6 million on behalf of an experienced developer client on the South Coast.
Cameron Hayes, Director at Arc & Co., worked closely with Ultimate Finance to get this 70% LTV transaction over the line in under three weeks, facilitated in part by the lender’s flexibility in using an existing valuation to complete the deal.
The 12-month loan is one of Ultimate Finance’s largest transactions to date.
Cameron commented: “This project was a combined effort between all parties, and it is great to complete on this financing for the client with such speed.
“The facility enables the client to pay off more expensive financing and sell through the remaining units over the next 12-months.”
Laurence Travaskis, Regional Director at Ultimate Finance, said: “Having a well packaged case and a broker who really knows the ins and outs of the borrower’s business always allows us to progress quickly—and is something we've come to expect from Arc & Co.”