The bridging and development finance broker arranged finance for clients with Amicus Property Finance, Funding 365 and Octopus Property for three permitted development projects.
The first scheme involved a half vacant office block with permitted development for 74 units, but immediate developable space for 33 units.
Adapt worked with Octopus Property to arrange the finance and D’mitri Zaprzala, head of sales at Octopus Property, praised the broker for the way it dealt with the complex development finance loan.
“They are quick to respond and great at packaging all the necessary information together on time and in the way we prefer.
“As a result, this loan was able to come together with the absolute minimum of fuss.
“We look forward to working with them closely in the future."
The second loan was for a fully vacant permitted development scheme for 100 residential units, which saw Adapt turn to Amicus Property Finance.
Last week, the broker partnered with Amicus Property Finance to arrange a £4m development facility for a permitted development scheme.
Keith Aldridge, managing director of Amicus Property Finance, said that to do £22m of completed business in a week was an outstanding performance by the team at Adapt.
“Amicus Property Finance is delighted to have contributed to their record with a loan of over £7m completed in just 13 days from application.
“Brokers do not achieve results of this magnitude without collaborating very closely, not just with their lenders, but also all the other stakeholders in the process.
“Adapt is very adept at this and that makes the life of a lender so much easier.”
The final loan was completed with Funding 365 and was for 34 fully completed permitted development units.
Mike Strange, managing director at Funding 365, added: “Adapt Finance shows an unparalleled level of commitment to understanding a borrower’s needs and crafting the optimal funding solution for them.
“We find that Adapt’s professionalism in presenting a case with all of the pertinent facts is unrivalled and this, in turn, allows us to complete bridging loans in the very tightest timelines.”
Jordan McBriar of Adapt said it had set out to broker £100m of property finance loans this year, so to achieve its quarterly target in one week was nothing short of amazing.
“For us to have achieved a combined total lending of over £22m in one week is pretty difficult to accept, but we did it.
“It certainly involved a lot of hard work with our clients, lenders and professional partners.
“We would like to thank all of those who supported us, especially Amicus, Funding 365 and Octopus in particular for partnering with us to achieve this milestone.
“As a result, we will go on to annihilate the annual target this year and we are very excited to try to surpass that achievement again next year.”