Specialist debt and equity advisory Arc & Co. has announced that it has closed a £25.67m bridging loan on a Knightsbridge property. The loan is for a term of 12 months and at 70% LTV.
The borrower intends to commence trading as a high-end serviced apartment complex within the next year.
The client, introduced to Philip Kay, Director at Arc & Co., by a wealth manager, is an owner-operator of high-end serviced residences in and around Knightsbridge and South Kensington in London.
“When dealing with high-value assets, especially in London, expectations around the valuation need to be managed extra carefully," explained Philip, adding “Our job is to source and work closely with a lender who understands the deal and has a genuine willingness to work with the borrower in achieving the required funding.
“Our lender partner displayed a pragmatic degree of flexibility in how they approached the proposition, and we collaborated well to arrive at a successful outcome for all parties,” he concluded.
