Ruth McCarthy

Property Finance

Acting for borrowers and lenders in connection with

• new lending facilities or the renewal of existing facilities
• refinances
• mezzanine finance
• development finance
• security reviews/appointment of LPA Receivers
• intercreditor/priority arrangements
• preparation/review of facility/security documentation

Recent transactions/achievements:

• Acting in connection with the £38 million refinance of a steel manufacturing company, having 13 UK sites across the UK
• Acting in connection with an £18 million refinance of a door manufacturing company.
• Completing a £10 million refinance of a multi-site ground rent fund.
• Establishing and managing the property finance division within Gunnercooke LLP (real estate department)
• Securing panel appointment for a major high street bank and establishing and managing a team undertaking volume secured lending work (for that bank)
• Acting for a P2P lender and establishing and managing a team undertaking volume secured lending work (for that lender)
• Acting in connection with £50 million complex forward funding arrangements for institutional lenders active within the healthcare sector

Development

• Acting for landowners and developers in connection with:

Promotion Agreements

Options

Conditional Contracts

Joint Ventures

Forward Funding Agreements

• Set-up of development schemes (residential, commercial and mixed use)
• Acquisition and disposal of ‘turn-key’ care home/assisted living schemes
• Acting in connection with the master planning/redevelopment of farmland/’estates’
• Hotel acquisition and redevelopment

Recent transactions:

• Disposal of a £25M ‘turn-key’ student accommodation scheme
• Acting in the acquisition, estate set up and sale of a 12.8 acre retail scheme (involving high street retailers and institutional investors)
• Acting in the acquisition of a city centre site for redevelopment as student accommodation (498 units with associated retail space and gymnasium)

Landlord & Tenant/Investment

• Portfolio management for large retail and leisure chains
• Leading sale and leaseback and large scale lease renewal programs for private equity companies
• Asset management and disposal of both commercial and residential property interests on behalf of multi-site owning PLCs