SPF Commercial team completes £12m development deal in eight weeks
Daniel O’Neil, Director at SPF Private Clients (SPF) arranged funding for the £19.6m development project for Acorn Property Group in Wedmore, Somerset, working alongside LendInvest who financed the deal. The scheme will comprise 55 residential units including a mixture of private residential and affordable housing. The loan was financed at 90 per cent LTC. Daniel and the lender worked swiftly to meet the borrower’s tight timeline, with the deal completing in just eight weeks. ‘’Given this was the fifth deal in 2 years, we were able to truncate the process somewhat, albeit the request for 90% LTC kept everyone focussed. It’s always a pleasure to work with both LendInvest & APG said Daniel O’Neil. SPF’s Commercial team have had a great start to 2020 and during 2019 arranged £750m of commercial finance.
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