Global menu

Our global pages

Close

Eversheds advises Legal & General on £120 million property loan

  • United Kingdom

    04-02-2013

    Global law firm Eversheds has advised Legal & General Investment Management on a new £120 million, 10 year debt facility to Bruntwood, the Manchester-based, family-owned commercial property company which owns and manages over 100 UK office buildings.
     
    L&G's fixed rate loan will partially pre-pay the maturing Bruntwood CMBS, issued by the Royal Bank of Scotland in November 2006, as part of a wider refinancing by Bruntwood.

    This transaction represents L&G's second real estate debt financing deal, following on from the successful £121 million loan to UNITE Group, the UK's largest developer and manager of student accommodation.

    The Eversheds team was led by Partners Nick Swiss and Nick Bartlett. Nick Bartlett commented:

    "This is a great deal for all concerned and demonstrates L&G's desire to develop its real estate lending business. We look forward to advising Legal & General on further deals."

    Graham Rouse, Commercial Real Estate Lending Manager at Legal & General, said: "Another significant and sizeable deal, this is the successful conclusion of several months' close discussions and demonstrates our ability to lend to dynamic property companies with complex portfolios."

    Disclaimer

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

    < Go back

    Print Friendly and PDF
    Register to receive regular updates via email.