gunnercooke acts for ELS Capital in securing loan to refinance student accommodation in Nottingham

June 17, 2022
Sarah Hung


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gunnercooke Partner Sarah Hung has acted for Hong Kong property developers ELS Capital on a £3.7m loan to refinance a 53-bed student block in Nottingham.

The loan was provided by Arc & Co and Secure Trust Bank and is the second deal for ELS Capital and Arc & Co. The bank provided the 65% LTV facility at 3.99% per annum over a five-year term, allowing gunnercooke’s client to refinance their existing debt.

gunnercooke provided support on the real estate finance requirements including legal charge, debenture, corporate authorisations and personal guarantees, cross guarantees, duty of care deeds and deed of subordinations.

The matter commenced on 2nd May and had a quick turnaround within the month.

Secure Trust Bank was advised by Clarke Wilmott.

Sarah commented: “This was a complex cross-border deal with a tight timeframe. I’m pleased to have been able to help ELS Capital with another deal to add to their expanding London portfolio.”

gunnercooke has a large commercial real estate team across London, Yorkshire, the North West, Scotland and Germany.