Arc & Co

Arc & Co completes £86m loan for Midlands development

Arc & Co has arranged an £86m facility for a speculative residential development in the Midlands.

The funds will be used to acquire the site and repurpose the land from its current tenure.

The client, who has multiple sites nationwide, was set a strict deadline to complete the purchase and required a high LTV.

The facility was provided by a US-based hedge fund on a three-year term, with an initial drawdown of £76m, equating to an 80% LTV.

The balance will be drawn upon attaining certain planning permissions.

Sean Adams, private client director at Arc & Co (pictured above), said: “This was a complicated funding proposition with many moving parts, but to get from application to completion in just over six weeks was quite a feat.  

“This was thanks to a very engaging client and an extremely proactive funder.  

“We look forward to completing further funding transactions for this client.”

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