10 months ago
Partner (Nick Turner)
Real Estate Finance
About Gowling WLG
Gowling WLG is an international law firm created by Gowlings, a leading Canadian law firm, and Wragge Lawrence Graham & Co (WLG), a leading UK-based international law firm. We built Gowling WLG to provide clients with legal services at home and around the world, and to help you succeed no matter how challenging the circumstances.
Gowling WLG clients have access to in-depth expertise in key global sectors along with a top-tier suite of legal services. With more than 1,400 legal professionals across offices in 18 cities worldwide and specialised expertise in countries around the globe, we’re positioned to help clients rise to the challenges they face – both today and tomorrow.
About the Team
Our dedicated real estate finance team combines the experience of our banking, structured finance and debt restructuring specialists with the highly regarded expertise of our real estate, planning and construction practice.
Our team is one of the largest and most respected in the UK with many top name clients who have been with us for many years.
We also have strength-in-depth support from our corporate, tax, and property funds teams.
We are specialists in structuring complex real estate investment, development and financing transactions for all stakeholders across all major jurisdictions, as well as delivering restructuring and recovery solutions across all sectors.
We also advise on both distressed and par debt trading transactions, and the structuring and implementation of loan-to-own strategies.
The Real Estate Finance team sits alongside the 34 partner, 156 lawyer-strong Real Estate Group, the 3rd largest real estate team in the UK, which contributes over 25% of the firm’s total fee income.
Recent highlights of the team’s work include:
PMB Holdings: - Berwick Street Securities LLP acting for the Borrower on a Close Brothers senior facility of £23,250,000 and a mezzanine facility of £10,150,000 from Beaufort Securities structured by way of deep discounted bonds for the development of a mixed use site in Soho London.
Vanderbilt Homes Limited: - acting for the Borrower on a £40,000,000 senior facility provided by the Royal Bank of Scotland plc and Barclays plc with a mezzanine facility of £20,000,000 provided by Cheyne Capital for the financing of residential homes in the south east of England.
Harbert Management Corporation: - acting on
£81,200,000 senior facility from Deutsche Pfandbrief AG for the acquisition of Eastgate Shopping Centre;
£68,770,000 senior facility from HSBC Bank plc for the acquisition of 80% of the units in the Kings Hill Jersey Property Unit Trust.
BCC Eiffel Sarl: - £55,000,000 senior facility to refinance Blackpool Shopping Centre.
Bank of Scotland plc: - acting in respect of the funding of numerous residential development sites for Octagon Developments.
HSBC Bank plc: - acting in respect of the funding of numerous residential development sites for Larkfleet Properties.
National Asset Management Agency: - acting on transfers of debt and security on distressed assets.
ESO Capital: - acting on the £60,500,000 funding of a joint venture with Regal Homes from HSBC Bank plc and the Royal Bank of Scotland.
HSBC Bank plc
Bank of Scotland
Barclays Bank plc
Lloyds TSB Bank plc
Sparekassen Spar Trelleborg
St Modwen Properties plc
Sanctuary Housing Association
Main Purpose of the Job
To work with Nick Turner and Gurinder Mann as part of the Real Estate Finance Team and with the wider Commercial Development and Investment team, acting for banks and financial institutions lending against property (including development finance) and property developers borrowing to finance developments.
Main Duties and Responsibilities
To advise lenders and borrowers in relation to property funding:
* Negotiating, reviewing and settling loan agreements, debentures, mortgages, guarantees, deeds of priority and subordination;
* Settling deferred consideration or overage charges;
* Reviewing/drafting reports on title and certificates on title;
* Drafting board minutes and corporate approvals;
* Marshalling conditions precedent to drawdown to include liaising with property and construction colleagues.
Key skills and experience
Effective drafting skills;
Effective written and verbal communication skills;
Experience of working within a team on complex matters;
Experience of running a caseload under partner supervision.
Gowling WLG is committed both to promoting equality and diversity in the firm and to Equal Opportunities in employment. The firm believes in equality of opportunity regardless of race or racial group (including colour, nationality, ethnicity, national origins), religion, caste or belief, age, disability, gender, gender identity, gender reassignment, sexual orientation, marriage and civil partnerships, surrogacy, adoption and parental rights. This also includes any incidents of perceptive or associative discrimination and harassment.
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