The loan was structured as a refinance to enable the borrower to transition smoothly from their development facility while retaining flexibility as the assets move forward.
The borrower is an experienced developer in the York area, with a strong track record of delivering high-quality schemes.
Avamore said solicitors were particularly supportive during the process, helping to ensure documentation was turned around efficiently and that all requirements were satisfied in good time to meet the agreed completion deadline.
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Adam Butler, sales and marketing director at Avamore Capital (pictured above), commented: “This transaction is a great example of what can be achieved when you have an experienced borrower and broker fully engaged in the process.
“The collaborative approach from day one allowed us to move quickly and deliver a refinance that positions the developer strongly for their next opportunity.”
Anna Zhabotynska, underwriter at Avamore Capital, added: “From a credit perspective, this was a well-structured development exit backed by a knowledgeable borrower with a strong local track record.
“With clear communication between all parties, we were able to work through the finer details efficiently and complete within the required timeframe.”
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