National law firm Shoosmiths has advised Natwest on a £3.125m funding package to a leading property and land management company, Greenbelt Holdings Ltd (Greenbelt), to support their growth strategy.
The funding will allow Greenbelt to focus on expanding the business across the UK and replaces investment provided by Maven Capital Partners via their Capital for Enterprise fund. Greenbelt currently services some 50,000 homes on around 500 developments throughout the UK and is looking to increase this number.
The facility has been structured by the NatWest Scotland Corporate Transactions team represented by Ondrej Okeke alongside colleagues in the banking team represented by Alasdair Seftor. Shoosmiths real estate senior associate, Sheelagh Cooley led the nationwide team that advised the bank.
Alasdair Seftor, Relationship Director at NatWest Scotland said: 'We are delighted to support the Greenbelt team with funding to assist their expansion plans going forward. They have a highly skilled management team with long established relationships across the house building sector.
'The term debt facilities allow Greenbelt to refinance existing debt and support their long term growth plans. The quality advice and dedication from the team at Shoosmiths were key to delivering this deal and are very much appreciated.'
Shoosmiths' Sheelagh Cooley, commented: 'We were delighted to be involved in this transaction which involved collaborative working across different offices within Shoosmiths and also with the various advisors representing all parties involved in the deal.'
Advisors working on the deal also included Mazars and Ryden.
Shoosmiths' real estate group is one of the largest in the UK, made up of teams advising on real estate, construction, planning, property litigation, and environmental issues.
Shoosmiths' clients include commercial and residential developers, investors, retail and leisure operators, social housing bodies, major corporate occupiers, banks and other funders and a range of public sector bodies.