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December 2022
Lawrence Stephens’ Real Estate Finance team acted on behalf of United Trust Bank’s Structured Finance team to complete the refinance of 9 commercial and residential properties with a loan of £2.8M. The funds were also utilised to purchase the shares of a company registered in the British Virgin Islands and for the refinancing of existing debt held by that company.
The Real Estate Finance team, led jointly by Sona Shah and Stavros Theophilou with support from Vidhushan Sujenthiran, worked to incredibly tight timelines, during which they overcame multiple hurdles and obstacles throughout the transaction. With an acute appreciation for the importance of speed and precision, the team worked efficiently to complete the significant deal prior to the festive period.
This transaction adds to a successful week of completions for United Trust Bank, with Sona having also completed a £1M loan for UTB in the same week; securing a commercial property in the newly generated Nine Elms area.
Stavros Theophilou, Director in the Real Estate Finance department at LS comments: “It has been a fantastic year for UTB’s Structured Finance team, and we are pleased to have completed yet another significant deal for our longstanding client. Despite some challenges along the way, the willingness of the Banks team and their introducing broker, combined with the responsiveness of LS team, enabled us to act purposefully and achieve successful completions”.
Adam Ware, Business Development Director, Structured Finance at UTB comments: “We are pleased to have closed another loan with the support of Lawrence Stephens. This was the type of deal for which UTB structured finance has a reputation for delivery, blending refinancing, share purchases, multiple jurisdictions and, of course, time pressure. Lawrence Stephens have a detailed understanding of our offering and approached the deal and its many hurdles with speed and tenacity. We look forward to closing more transactions in the new year.”
