The facility, agreed at 70% LTV over a 12-month term, will offer the borrower additional time to make minor amendments to the planning.

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The client will repay the loan by refinancing to a development facility with Reim Capital or another lender. 

Amar Khiroya, co-founder and principal at Reim Capital, said: “This deal completion was implemented efficiently and with great importance. 

“With the client needing extra time for property amendments before transforming the commercial property into a residential project, we made it our aim to have a quick turnaround throughout the whole process.”