Real estate finance

Our real estate finance practice is able to advise and service complex funding of domestic and international real estate financings in all its forms.

We act for the investment and clearing financial institutions, investors, property companies, developers, domestic and international funds and equity providers. We participate in all sectors of the real estate finance market including investment, development, structured and cross border financings. With a depth of experience acting for both borrowers and lenders we have a thorough understanding of the requirements of the market and our clients.

Our experience includes advising on all aspects of real estate financing transactions such as investment and development, refinancings, tax-based (SDLT and others) and structured financing, sale and leasebacks, leveraged acquisition, lending to various corporate entities including limited partnerships, limited liability partnerships and hedging.

We provide a fully integrated service by working closely with our highly-rated and experienced colleagues in Tax, Corporate, Construction, Real Estate, Planning, Environment and Insolvency.

Experience

Members of our real estate finance team have advised:

• A high street clearing bank on its £300 million investment, development and working capital facility to a Guernsey regulated fund including use of stamp duty mitigation schemes utilising off and on shore SPV's and unit trusts.
• A syndicate of leading financial institutions on their £350,000,000 investment, development and working capital facility to a limited partnership dealing with various SDLT schemes including the use of limited and limited liability partnerships, unit trusts and off and on shore limited companies.
• A senior lender on the restructuring of an existing £144,000,000 investment and working capital facility to an English limited partnership and nominee structure. The transaction required the structuring and provision of complex advice on the quasi equity investment by the bank via a profit participation agreement.
• A property investor and operator investee company on its refinancing and restructuring of its £68,000,000 facility residential equity release scheme. The facility required the provision of a complex and bespoke facility agreement including provisions in respect of equity release, payments to the subordinated creditors, interest and fee shortfall loans and payment protection loans.
• A German financial institution on a £31,450,000 facility to a property fund to acquire for 2 retail parks (situated in England and Scotland). The Facility included the funding of an English limited partnership utilising Jersey holdco and English nominee acquisition vehicles.
• The Royal Bank of Scotland plc on property investment and development facilities totalling c. £27,000,000 to a care home owner/operator.
• Lenders and borrowers on accommodation-based PFI projects and other infrastructure projects in the energy, road, rail, education, health and waste sectors.
• A leading financial institution as senior lender on the £1billion+ Silvertown Quays urban regeneration project, a mixed use development in the Thames Gateway including c 5,000 residential units.
• A UK clearing bank on the £48m financing of one of the JV participants in the Greenwich Peninsula urban regeneration project.
• A leading financial institution on senior facilities of £250million and £483million to two property investment funds, to finance property and corporate (property sector) acquisitions, involving offshore financing structures to mitigate stamp duty liabilities.
• A UK regional hotel property fund - Advising on a proposed £115 million acquisition and capital expenditure facility to be arranged by a UK clearing bank.
• £100 million+ mixed-use development of a Derby city centre site - Advising on a number of real estate aspects, including negotiating senior debt facilities of £58 million and advising on the highways contract, two-stage design and build contract and professional appointments.
• £26 million loan facility for Royal Bank of Scotland Major Corporate Banking - Advising RBS on its £26 million loan for the acquisition and development of retirement care village units, including advising on real estate aspects and the building contact and ancillary documents.
• £190 million debt financing for a healthcare client - Advising Pavilion Developments on a £190 million debt financing with Norwich Union of a portfolio of 23 care homes.
• £77 million property investment for Abbey Care Investments - Advising healthcare client Abbey Care Investments on its £77 million property investment and development facilities with RBS.