REAL ESTATE GROUP, Property Finance Team, Associate - Birmingham

Main Purpose of the Role:

Advising banks and financial institutions as well as borrowers on all aspects of lending against and financing property.

Main Duties & Responsibilities:

Working with partner Colin Hurt acting for banks and financial institutions lending against property (including development finance) and property developers borrowing to finance developments.

Clients include organisations such as Allied Irish Bank, Anglo Irish Bank, Bank of Ireland, Bank of Scotland, Hypothekenbank in Essen AG, Lloyds TSB Bank plc and
Sparekassen Spar Trelleborg.

More particularly this role will involve:

• Advising borrowers and lenders on secured lending
• Negotiating, reviewing and settling loan agreements (including syndicated loan agreements), debentures, guarantees and security documents including legal charges, deeds of priority and subordination.
• Deal with investment and construction funding including apportionments of the professional team, collateral warranties and step in agreements.
• Due diligence on the property, i.e., reports on title; certificates of title.
• Set up limited partnerships, limited liability partnerships and joint venture companies to include equity investment and profit share.
• Review stamp duty savings schemes.
• Mortgage book transfers.
• Negotiating, reviewing and settling overage and clawback debentures.
• Preparing certificates/reports on title property.
• Applying working knowledge of limited partnerships/joint venture vehicles.

Key Skills and Experience:

The ideal candidate will have:

• Extensive post qualification experience advising on a range of property finance transactions
• Experience of taking a lead role in a team on a range of complex and straightforward transactions.
• Experience of banking practice, having supported property finance transactions, and working knowledge of syndicated loan agreements, joint ventures (e.g. shareholders’ agreements), overage and clawback debentures, LLPs, project management agreements and equity shares.
• Experience of mentoring and supervising less experienced team members
• Taken a lead role in building and maintaining client relationships through the provision of an efficient and technically excellent service
• Taken a lead role in suggesting promoting and running practice development initiatives using a collaborative, co-operative and open approach;
• Taken a active role in technical debate in your current or previous roles by contributing your knowledge both within and without the firm, for instance by publishing articles and/or by delivering presentations and training;
• A track record of taking responsibility for establishing and developing relationships with and obtaining instructions from identified target and existing clients
• A thorough knowledge of mainstream commercial property transactions
• An understanding of the importance of accurate and efficient time recording as well as the need for efficient financial matter management.

Competencies:

• Qualified solicitor
• Excellent drafting, negotiation and problem solving skills
• Technically excellent in chosen area of expertise
• Team player regularly responsible for taking a lead role in those teams
• Well established interpersonal skills and regularly takes responsibility for marketing initiatives
• Responsible for mentoring and supervising less experienced team members
• Strong sense commercial awareness with an understanding of your client’s market sector
• Excellent organisation and time management skills.

Recent Highlights:

• Acting for a Developer in relation to an amendment and restatement of a £171m property finance facility.
• Establishing a €270m fund with Morley for a property developer client for the development of Shopping Malls in Eastern Europe.
• Acting for Landsbanki in advancing acquisition monies to assist a Danish Investment vehicle to purchase 7 hotels.
• Acting for Allied Irish Bank on the funding of 171 residential flats in Watford.
• Property due diligence on £805m securitisation.
• Acting for Meteor Industrial Partnership in relation to a £40m secured senior debt facility from Eurohypo.
• Acting for a UK LP in relation to a €180m syndicated facility agreement for the development of industrial properties in Eastern Europe.
• Acting for a UK LP in connection with a £120m syndicated facility agreement for the development of industrial properties in the UK.
• Acting for AIB Group (UK) plc in the refinancing of Northern Racing Group providing facilities of £19 million secured on eight racecourses.
• Acting for Royal Bank of Scotland on a £52.8 million acquisition finance facility to a subsidiary of IM Properties plc for the acquisition of Woking Shopping Centre for a total consideration of £70 million.
• Acting for Royal Bank of Scotland plc on the English due diligence of the acquisition of a £275 million public house portfolio from Scottish & Newcastle by way of shares.
• Acting for the Bank of Ireland on the provision of £80 million facility to Christian Vision for the purchase of the Fareham Shopping Centre secured on four institutional properties.

Equal Opportunities:

Wragge & Co is committed both to promoting equality and diversity in the firm and to Equal Opportunities in employment and believes in equality of opportunity regardless of gender, age, race, colour, nationality, ethnic origin, religion, disability or sexual orientation.

At Wragge & Co we seek to attract and retain talented people from a diverse range of backgrounds and cultures, to create an exciting and rewarding place to work. Our aim is to fulfil everyone's potential and together to achieve personal and business goals.

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