We advised M5 Associates, an independent, specialist lending company, on a £12 million development finance loan – their largest lend to date. The loan was for the acquisition of development land in Luton, with planning permission for three residential apartment blocks.
What we did:
This was a complex transaction, involving our corporate, property, and construction experts. It involved lots of parcels of land coming together on one development site, and a non-traditional repayment model – all of which we negotiated and incorporated into a bespoke facility agreement and security documentation.
This transaction was time-critical, as the purchaser had already exchanged contracts. We delivered on time and on budget, and the loan’s now been successfully repaid.