Development finance lender Atelier has completed an £8.1m loan to support the delivery of 13 apartments at a site in Poole.
Structured over a 25-month term, the facility which was structured at 70% LTV, refinances existing debt and funds the ground-up delivery of the scheme.
The development will comprise two penthouses and 11 two-and-three-bedroom apartments, with associated parking and landscaping.
Luke Eadie, lending manager at Atelier, said: “We’re pleased to be supporting a new borrower, an experienced local developer, on this scheme in a highly sought-after Poole location. The project is well aligned with local demand and we were able to structure a facility that supports both the refinance and delivery of the development.”
