Arc & Co. has arranged a bridging loan for the acquisition of three below market value (BMV) units from a housing association in Balham, London.
Vishal Dixit (pictured), lead adviser on the transaction, obtained the loan at 74% loan-to-value (LTV) and 98% loan-to-purchase, requiring a 2% equity contribution from the borrower.
The £1.2m facility is for a term of 12 months, at a rate of 1.09% per month.
Dixhit said: “It was important that we reduce the equity stake in the purchase as much as possible, given the client’s plans to refurbish the properties using their own capital.
“Utilising our extensive network of lending partners, we were able to negotiate favourable terms that fit the borrowers’ requirements, getting the deal over the line inside of four weeks.”
