Specialist property lender Avamore Capital has completed a £1.8m refinance facility to support the development exit of four newly-built residential properties.
The loan was structured as a refinance to enable the highly experienced York-based developer to transition smoothly from its development facility while retaining flexibility as the assets move forward.
Adam Butler (pictured), sales and marketing director at Avamore Capital, said: “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.”
