Herrington Carmichael’s Real Estate Finance team, led by Jamie Lynch, Partner, advises a property development group on the strategic multi-facility refinancing deal across eight property sites.
The transaction consolidates the group’s existing debt structure, streamlining existing loans from four lenders
to a single new lender. The total value of the three combined loan facilities is approximately £7 million and
spanned across 10 properties. Herrington Carmichael also delivered strategic asset management advice to
regularise the group’s position with its ongoing commercial tenants across the client’s portfolio.
Kelsey Phillips, Head of Specialist Lending at Arose Finance, commented:
“At Arose Finance, we’re delighted to have worked with Herrington Carmichael to deliver a tailored
development exit finance solution for this client.Like many SME property developers, the client required additional time to realise the value of completed
units while refinancing expensive existing debt. With three borrowing entities and a complex security profile,
the transaction required carefully structured property finance and close collaboration between broker, lender
and solicitors.Jamie and Will were exceptional throughout. They worked closely with us to navigate the complexities of
the portfolio refinancing, bringing a pragmatic, commercial approach and a real commitment to meeting the
required completion timeframe. Their responsiveness and attention to detail were instrumental in achieving
a strong outcome for the client.A fantastic result, and I look forward to working with Jamie, Will and the wider Herrington Carmichael team
again soon.”
Director of a group entity commented:
“We were pleased to trust Jamie, Will, and the wider Herrington Carmichael team with our group’s three
combined loan facilities with a value of circa £7m. They delivered efficient, strategic advice under a
compressed timeline, navigating complex transactional hurdles. Jamie and Will worked collaboratively
with my fellow directors and I, as well as the broker, to negotiate key milestones. The security documents
involved an intricate suite of facility documentation, which they handled with impressive turnaround times,
ensuring clarity throughout the process.”
We look forward to continuing to support the group throughout the life-cycle of the asset group.
