The 67% LTGDV facility will fund the development of 13 residential properties, a percentage of which will be affordable units.

The client required the funding urgently to accommodate its tight project timeline, as the contracts for this scheme had already been exchanged.

LendInvest completed the deal — which was introduced by SPF Private Clients — within three weeks from initial introduction. 

Steve Larkin, head of development finance at LendInvest (pictured above), said: “Completion deadlines are a critical part of the development finance world, and vendors can take advantage of this to the detriment of clients if something happens behind the scenes with the funding. 

“We were delighted to help complete this deal, which continues our strong relationship with Acorn and SPF.

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“Special thanks to JLL, Glovers and Regency Grove for their swift assistance and being readily available at all times to proceed quickly to completion.”

Dan O’Neil, director at SPF Private Clients, commented: “With an extremely tight completion deadline, Lendinvest once again proved that it has the capacity and flexibility to execute deals under pressure. 

“Funding a development loan from inception to completion in three weeks is exceptional. 

“Recognition must also go to Glovers, which acted for LendInvest on the legals for its enterprise.”

Melanie Omirou, managing director at Acorn Property Group, added “We are delighted to once again be working with the team at LendInvest and thankful to it and the other parties involved for acting so quickly within a tight and critical timeframe — from beginning to end, the team worked swiftly to facilitate the loan in just three weeks.”