Over £1bn for Trowers & Hamlins' Property Charging team
Published by Brian Church for 24dash.com in Housing and also in Finance
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Law firm Trowers & Hamlins announced Thursday that its national Property Charging team has successfully charged more than £1 billion of property since mid-2013 to secure multiple high-value bond issues and private placements in the UK housing sector.
In the past nine months, Trowers & Hamlins said it has charged bonds and private placements for housing associations on over 16,000 properties throughout England.
It charged the largest single housing association transaction between January 2012 and February 2014: £350 million for Peabody, completed in December 2013.
Other work included:
- Leading the security work for a £200 million bond (£50 million retained) issued by East Midlands Housing Group (EMH) secured on 3,500 units of EMH's housing stock
- Securing a £140 million Poplar HARCA bond on 1,000 units in East London
- Securing £50 million from 760 units for a private placement by Origin Housing
- Securing £250 million on 4,700 units for a bond issue by Aster Group
- Securing £35 million for a private placement on 4,000 units for Severn Vale, alongside a £90 million refinancing.
Trowers & Hamlins' Property Charging team is made up of 14 senior lawyers, supported by a team of eight paralegals, administrative assistants and trainees. The team acts for registered providers of affordable housing, as well as lenders and security trustees, on all aspects of charging work.