“Completing six deals with one broker in a single month demonstrates what can be achieved when there is genuine alignment and trust”
– George Ormerod – Avamore Capital
Avamore Capital has announced that it has completed six transactions worth a combined £11m in a single month, all introduced by one broker. The activity highlights the scale of recent deal flow handled through a single intermediary relationship and reflects the range of structures involved.
The broker, a sole operator who is also an active developer, has worked with Avamore for the past 12 months. The relationship has developed through repeated transactions and close collaboration on complex cases.
The first phase of lending covered four high-spec HMO refurbishment facilities in south east London, totalling about £3.15m. The loans were arranged through separate SPVs for a high-net-worth investor building a premium HMO portfolio in Article 4 areas.
Avamore structured the facilities at 75% day-one LTV against open market value and funded 100% of the build costs in arrears. The lender also enabled an equity release from the existing provider. The projects involve upgrading and extending properties to create fully en-suite accommodation targeted at young professionals.
Additional checks were required because the borrower was a foreign national. Although the client was a first-time developer, their contractor’s experience supported the credit assessment.
The second phase of activity focused on Bristol and included two larger loans:
a £3.2m purchase and light refurbishment of a fully tenanted 24-flat block, completed within a three-week deadline ahead of the Autumn Budget and structured at 85% LTV against the purchase price, with refurbishment costs funded in arrears
a £4.5m multi-site portfolio acquisition secured on two flat blocks and two semi-detached houses, structured as a company share purchase and involving enhanced legal due diligence and detailed underwriting
All units in the final transaction were income-producing at completion. The structure also had to account for additional complexity around title arrangements.
“These transactions involved first-time development, share purchases, tight deadlines and valuation challenges, but through collaboration and decisive underwriting we were able to deliver,” said George Ormerod, relationship manager at Avamore Capital (pictured). “Completing six deals with one broker in a single month demonstrates what can be achieved when there is genuine alignment and trust.”
Together, the six transactions illustrate how a single intermediary relationship can span refurbishment finance, portfolio acquisition and share purchase structures within a short time frame.
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