Macfarlanes advises ARA Venn as arranger of loan facility to H.I.G. for Bloomsbury office building redevelopment
The purpose of the loan was to finance the acquisition and redevelopment of Tavis House, a 60,000 sq ft office building in Bloomsbury, London.
The Macfarlanes team was led by finance partner Colin Morgan with assistance from senior solicitor Christine Dowdall. Real estate advice was provided by partner Clare Breeze with support from senior solicitor Laurie Fletcher and solicitor Erin Gilliland.
Colin Morgan comments: “We are delighted to have assisted ARA Venn with this facility to H.I.G. which completed in an unusually short timeframe of three weeks - which was necessary to achieve the required completion date. All teams worked hard to get this deal over the line during these challenging times in order to achieve a great result for all clients.”
George Cotterell, director at ARA Venn, commented: “Our corporate real estate lending strategy is focused on acting quickly and efficiently to secure transactions with the best sponsors on assets with attractive long-term real estate fundamentals. This approach continues to serve us well in an uncertain market, and we are delighted to have had the opportunity to work with H.I.G. on this important transaction. The Macfarlanes team gave us every confidence that they would be able to deliver what we needed – and duly did.”