LG advises on property and development company financing
28 October 2008
Business law firm LG, has advised well-known property development and investment company Helical Bar Plc (Helical) on a financing of their Morgan Estate in Cardiff with Aareal Bank after a substantial redevelopment of the former premier department store.
The value of this transaction was in excess of £30 million.
The LG team was led by Real Estate partner Stephen Stephens and Real Estate Finance partner Jane Spiers. It also included Jon Lent, Hillary Cohen and Mirabella Stammers.
Stephen said: “Helical had finished its challenging refurbishment of this major Cardiff landmark and felt that the capital tied up in the project could now be better deployed on other projects needing Helical’s expertise. The estate is being retained in Helical’s investment portfolio with a sensible level of gearing agreed with their long time funding partners Aareal.”
Olswang advised Aareal Bank.
Notes to editors:
- LG's Real Estate Finance team combines the experience of lawyers from our corporate and banking practices with the highly regarded expertise of our Real Estate team. They are specialists in structuring real estate investment and financing for lenders, investors and developers.
- LG provides high quality practical and commercial advice at all stages of the process of creating and dealing with real estate assets in the UK and internationally.
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