Pluto Finance closes £31.5m of bridging loans in east London
By Simon ThompsonPluto Finance has revealed that it has closed more than £31.5m of bridging loans for the financing of two properties in Poplar, east London
Section: Case Studies
The specialist property lender provided a £12.7m loan for the acquisition of a former document storage centre.
Mario Ioannides, lending director at Pluto Finance, said: “The borrower for this loan is a specialist at obtaining significant planning consents and we are delighted to lend to such an experienced and diligent client.
“We provided a 12-month bridge facility with the option to extend for a further 12 months if required.”
Pluto has also provided a £19m development exit bridge so that a repeat borrower can take out an equity release on a project as it reaches practical completion.
Mario added: “At Pluto Finance, we are able to move very quickly to provide finance facilities of this type to assist borrowers at all stages of development.”
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