Capsticks advise L&Q on £100m facility with new sector entrant25/04/19
Capsticks is delighted to have advised L&Q on the facility arrangements and associated security charging for a substantial new £100m facility with the National Australia Bank, which completed on 29th March 2019. Completion of the facility agreement and the security arrangements 714 units took place simultaneously, within 3 weeks of the funder’s solicitors confirming their appointment. This follows our acting on the terms of another substantial £150m facility and the security charging exercise 1844 units with Lloyds Bank earlier this year which completed within 12 weeks of initial appointment of the bank’s solicitors.
The funding will support L&Q’s corporate strategy including its development programme.
Martin Watts from L&Q said, “We are very pleased to have closed these
deals in record time, working in close partnership with the Capsticks team.”
Both projects were led by Susie Rogers and Steve
Dove at Capsticks. Susie commented “these
were particularly fast-paced deals, including to bring investment from a new
entrant to the housing sector, and we are really pleased to have achieved such
a great result for L&Q”.
Capsticks offers a full service solution to housing providers, focusing on clear and practical advice to our clients.