What We Do
Our real estate finance and secured lending team advise borrowers and lenders on how to appropriately balance legal and commercial risk in lending transactions where the primary security is real estate.
The team brings together expertise in banking and finance, real estate, construction, planning, tax, corporate, insolvency and restructuring.
We provide a full service offering to lenders, funders and borrowers, including:
- Bilateral and syndicated loan agreements – both domestic and cross-border
- Security arrangements including debentures, legal charges, assignments of rights under development agreements and leases, guarantees, share charges, assignments of intercompany balances and account charges
- Intercreditor arrangements, including deeds of priority and subordination
- Amendments, waivers, variations and consents under loan and security documents
- Undertaking title diligence on properties to be funded and preparing reports/certificates of title. We also advise lender clients on title issues and reviewing of certificates and reports provided by other firms
- Liaising with valuers and insurers as part of a lender’s due diligence process
- Negotiating and reporting on construction documents in relation to development financings
- Project managing the transaction process, including the collection and delivery of conditions precedent documents
- Producing bespoke standard form/template documents for lender clients
- Advising on the interpretation of provisions in existing loan documentation
- Advising in connection with loan acquisitions, both senior and mezzanine (whether single loans or loan portfolios)
- Advising on control rights and related issues in connection with securitised loans
Why Choose Irwin Mitchell?
We represent clients in relation to real estate finance and secured lending transactions for the purpose of:
- Acquiring land and/or buildings
- Constructing and/or developing land and buildings
- Refinancing of existing debt
- Acquiring individual loans and/or loan portfolios
- Generating working capital
As we act for both lenders and borrowers, we understand financing transactions from both perspectives. We anticipate and understand the issues that are likely to arise, and adopt a pragmatic and commercial approach to deal with these.
At the outset we establish the scope of the services you require. Wherever possible we will try to agree fixed or capped fees with you for the work required.
Understanding what’s important in a financing transaction is critical to getting a deal safely through to completion in a timely and cost effective way. Our team will work hard to protect your interests and won’t argue over technicalities which have minimal importance, but which can disrupt the transaction.
Recent Real Estate Finance And Secured Lending Work
- We acted for the Mansion Student Accommodation Fund on the circa £18m refinancing of two multi let student accommodation properties with I.C.G. Longbow’s debt fund. Longbow provided the Mansion Fund with a property development facility to enable the Fund to substantively refurbish one of the properties within its portfolio
- We acted for Macquarie Bank Limited in relation to the £24.1m refinancing of a student accommodation scheme in Bristol (borrower’s name confidential), providing finance, real estate and construction advice
- We acted for Mercer Real Estate Partners in relation to the acquisition of Mitre House, 160 Aldersgate Street, London EC2 (currently occupied by CMS Cameron McKenna). As well as advising on the financing of the acquisition (by way of senior and mezzanine facilities) we advised on the syndication of the senior loan. The transaction value was £65.5m
"Very good knowledge across the ABL market"
Legal 500, 2016
"Recognised for its strength across the full spectrum of asset-based lending matters."
Chambers & Partners, 2016
"Knowledgeable, friendly and approachable."
Legal 500, 2015
“[Irwin Mitchell] combine[s] expertise in various forms of financing” and is “noted for its local bench strength and depth of resources”
“[Dean Gormley brings a] high level of expertise in real estate finance”
From a client’s testimonial: “[Dean Gormley] gave well-rounded advice and was very commercial and pragmatic in getting deals done without comprising my position”
"'Exceptionally experienced in the ABL sector', the practice handles sophisticated cross-border transactions."
Legal 500, 2014