Forsters' Banking and Finance team advise OakNorth bank
Forsters' specialist Banking and Finance team has advised long standing client, OakNorth. The team, led by partner Simon Collins, advised on a £50 million senior debt facility from OakNorth Bank to Solihull-based housebuilder, Hayfield.
The housebuilder will use the finance to develop a total of 1,500 homes over three years.
OakNorth is a UK bank for small and medium sized companies that provides business and property loans. The bank lends between £500,000 to in excess of £50 million to businesses and property developers. Its loans have supported the development of more than 10,000 homes and creation of in excess of 13,000 jobs in the UK.
Working with Simon was associate, Dominic Lintner. Also advising on the deal were senior Property associate, Danielle Kenyon and Construction associate, Jamil Sanaullah.
OakNorth has been assisted greatly by Forsters’ particular expertise in real estate finance. Our real estate finance group comprises lawyers with specialist sector expertise. The group provides transactional advice to a broad range of clients, and offers clear, pragmatic advice and finds solutions to complex problems.
Banking and Finance partner, Simon Collins, commented: “Great to complete this deal for OakNorth and to continue being part of their journey as they go from strength to strength".