Friday the 13th has historically been a day of torment, unfortunate occurrences and downright bad luck… However, as I am sure you already know, Adapt Finance aren’t exactly the norm.

The date relates to the deadline for completion of the case in question, which was not only the biggest case Adapt have ever completed but also our client’s largest acquisition. The massive vacant office block in Hampshire had permitted development rights for 113 apartments and a gross development value at over £22m.

The clients needed £8,080,000 to complete the purchase, and was able to come up with £2.83m via a deposit. Adapt raised the remaining £5.25m through Amicus, who have become a lender to which Adapt can turn to when the going gets tough and decisions need to be made.

We have always been impressed at the way Amicus approach our cases, but never have they impressed under such time pressures as we had here. The Amicus stakeholder workshop definitely had a large part to play in the completion of the project as, rather fortuitously, I had been sat with the underwriter, valuer and lawyer who helped us to complete in less than a month.

From start to finish all parties involved were in constant communication and, as a result, a very tight deadline was met.

Meeting all the professional parties involved face to face was something we discussed at the workshop. We all talked at length and agreed that if at any point each member of the transaction needed something from the other it could be done without any time being lost.

At Adapt, we pride ourselves on the strength of our relationships, so we asked the client what we added to the business. They replied: “Providence House was the biggest project for us to date and Adapt were there to make the magic happen - as always.”

So maybe Adapt has proved that trends are there to be re-written and expectations are there to be met - and exceeded.

Finance is changing - have you adapted yet?

Attributed to Jordan McBriar at Adapt Finance