Leading commercial law firm Hill Dickinson has advised the Royal Bank of Scotland plc on a £50 million term loan facility to the Magic Homes Group, a property development company based in London.
The transaction is a significant one for both the Royal Bank of Scotland and the Magic Homes Group, with the term loan facility allowing Magic Homes to refinance existing indebtedness and to meet its general corporate funding needs.
The Banking team carried out an extensive due diligence exercise on more than 30 properties across London, comprising both residential and commercial assets.
Partner Richard Capper led on the banking aspect of the transaction, assisted by senior associate Elizabeth Finnie, while legal director Louise McMahon led on the property aspect with assistance from Caroline Pierce, James Houston and Afsor Ullah.
Elizabeth Finnie said: “It was a pleasure to advise the bank on this notable transaction, which demonstrates its ongoing commitment to investment in the UK real estate sector and its confidence in the future.”
The Hill Dickinson Banking team has a wealth of experience advising clients on complex banking and finance matters, including real estate and development finance.
Nick Kephalis, Constantine Alexandrou and Nikita Tuli of YVA Solicitors advised the borrower on the transaction.
