The developer required the finance to acquire existing offices and fund the conversion of 154 apartments in Worthing.
The brokerage was able to secure £14m of senior debt from Brydg Capital and £4.4m of junior debt from Rubicon.
The 77% LTGDV loan had a blended rate of 9%, with an arrangement fee of 1% and exit fee of 1.5%.
“It's been a privilege to act on behalf of our long-standing client, English Rose Estates,” said Edward Horn-Smith, managing director at Arc & Co (pictured above).
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“Brydg and Rubicon showed their experience in this transaction, adapting to unforeseen changes and meeting agreed timelines.
“I look forward to working with them both again soon.”
David Bendavid, director at Brydg Capital, added: “We are pleased to be working with such a highly experienced developer as English Rose Estates, and continue our ongoing relationship with Arc & Co.
“Its expertise in structuring this complex deal has been instrumental in successfully completing during a volatile market.
“Transparent and professional at all times, we look forward to working with them again in the future.”
Ben Fugler, director at English Rose Estates, commented: “We are delighted to have completed on this deal, allowing us to enter the next phase of such a well-located development.
“The scheme will give the existing building a new lease of life and will provide the area with 154 high quality homes.”
Pullman Construction will be acting as main contractor on the project.