Julian King

Arc & Co and Octane arrange £3.4m development exit bridging loan in nine days

Arc & Co has collaborated with Octane Capital on completing a £3.4m development exit bridging loan in nine working days for a luxury residential new-build scheme.

The client, a residential developer located in the Home Counties, required the facility to streamline its debt strategy and release equity for the next project. 

The transaction itself was straightforward, but faced challenging time constraints.

Despite this, the teams from both broker and lender were able to complete the deal within nine working days thanks to good communication between all parties and the efficient information flow.

The loan was agreed at 70% LTV and 0.54% interest rate for nine months.   

Julian King, asset finance adviser at Arc & Co (pictured above), said: “Thank you to Octane Capital for providing our mutual client with a developer exit bridge. 

“Transaction speed was critical in arranging this loan; I am hugely grateful to Alex Tyrwhitt [head of structured finance] and Liam Lawlor [sales director] at Octane Capital, and their professional team in delivering this loan in nine working days — a spectacular performance by all involved."

Alex added: “A big thanks to Arc & Co for introducing this great £3.4m developer exit and, as ever, working extremely professionally and closely with us to ensure a two-week turnaround. 

“Julian was a pleasure to work with and responded to all queries diligently and quickly to help meet his client’s needs and ours.”  

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