Arc & Co Structured Finance

Arc & Co arranges £9m bridging loan on vacant office building

Arc & Co Structured Finance has worked with West One Loans to secure a £9m senior bridging loan against a vacant office building in London valued at £14m.

The loan was completed within one month of proceedings commencing, with mezzanine finance provided by a private second charge lender.

Sam Le Pard, asset finance adviser at Arc & Co, said: “This was a fascinating transaction to work on.

“Although the property did not have development consent at the time, it had a long history in planning and there was a great story to tell around the sponsor.

“To get to the net loan amount that the client required, we settled on a part-serviced, part-retained interest structure across the senior and junior debt. 

“In order to achieve this, we had to work with sophisticated lenders who would understand the building, both in its current commercial state and as a residential development opportunity.” 

Danny Waters, CEO at West One Loans and Enra Group, added: “It was great to work with Arc & Co on another satisfying transaction. 

“We are delighted to be able to support these types of client and at every stage of their development process. 

“Arc & Co drove the process throughout from conception to completion.”

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