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Property finance

As one of the world's leading law firms in advising on private capital we have extensive experience in the sale and purchase of investment properties and portfolios, as well as development deals, financing and the global hospitality and retail sectors.

As part of a global practice, we are adept at helping you project manage your cross-border transactions. Our team will also ensure you protect the value of your property investments, by structuring them in the most tax-efficient way.

Clients include individual investors, banks, financiers and developers based around the world, including well-known names from ‘rich lists’ in the US, Europe and Asia. Many have substantial property portfolios, and seek advice on transactions of urban and rural land of every description, from offices, retail units and warehouses to forestry and agricultural land. We recently represented the seller of a beachfront residential parcel in the Hamptons, New York; one of the highest residential sale prices recorded to date.

Hospitality is a particular strength, and we can advise on numerous debt and equity financing products that are suitable for hotel and restaurant businesses. Our longstanding clients in this sector include Soho House, which has in recent years acquired a string of new sites for new private members’ clubs in locations as diverse as Barcelona, Istanbul and Malibu.

With more than 100 charity and nonprofit clients, we often advise these organizations on secured lending relating to property and facilities. Recently, we represented a major donor for a new public museum in New York State, helping with joint venture financing and construction agreements with public and private participants. And we structured funding for the redevelopment of London’s Great Ormond Street Children’s Hospital.

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Distinctions

Focus areas

Families and family offices

Farms and estates

Hotels and hospitality

Construction

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How the team can help

Parcours

Purchase of a SG$402 million commercial complex

We acted for a wholly-owned subsidiary of a Singapore listed company in the purchase of a commercial complex with an acquisition value of SG$402 million, and the related syndicated loan of SG$309 million to finance the purchase in Singapore.

Advised banks and borrowers in Singapore on project financing

We have advised banks and borrowers in Singapore on project financing for the development of hotel/office/shopping complexes, residential estates, highways, pipelines, petrochemical plants and other industrial developments, and financing for the acquisition of hotels, hospitals, plantations, commercial and industrial buildings and complexes and the takeover of companies, secured against all kinds of assets and guarantees, in jurisdictions such as Australia, China, Hong Kong, India, Indonesia, Malaysia, Myanmar, the Philippines, Thailand, United Kingdom, Vietnam, and others.

SG$98 million construction project

For the construction of a 17 story complex, we acted for a bank in Singapore in the grant of banking facilities of up to SG$98 million.

SGD$87.56 million state land acquisition

We acted for an international school in the financing of SG$87.56 million from DBS to acquire state land, and construct and develop a new school building in Singapore.

Major UK shopping centre acquisition

Advised a high profile property fund to acquire 5 shopping centres across the UK for a total value of for £226 million

Lending for a rice factory in Central India

We acted for an Indian bank lending alongside the World Bank in the building of a rice factory in Central India.

USD$43 million secured syndicated loan for Alini Investment BV

We acted as counsel to a syndicate of banks lead-arranged by ZAO Raiffeisenbank Austria with respect to a USD$43 million secured syndicated loan facility to Alini Investment BV. <br /> <br /> The proceeds of this loan were used for the construction and development of an office-center in central Moscow.

Financing of acquisition of 93.5% stake in Grand Hotel Europe

We acted as counsel to IFC in connection with the financing of the acquisition by Orient Express Hotels of a 93.5% stake in St. Petersburg's historical Grand Hotel Europe. The deal marked the largest single property acquisition in Russia at that time and was the first ever acquisition financing by IFC in Russia.

£15 million estate purchase

We advised on the purchase of a £15 million estate comprising diverse assets including a private water supply.

Windfarm development

We advised a landowner on the lease of a UK site for the development of a windfarm consisting of 18 turbines.

First Corporate Shipping Limited

We represented First Corporate Shipping Limited on a financing of construction at the Bristol Port in the UK led by BHF Bank, and also in connection with facilities construction finance by users of Bristol Port.

The financing of a steel galvanising plant

We acted for a major Indian bank in financing a steel galvanising plant in Nigeria.

€123.5 million loan to finance a hydroelectric power plant

We represented a multilateral agency on a €123.5 million loan to Hrvatska Elektroprivreda DD to finance the construction of a 68MW Ombla hydroelectric power plant at the Rijeka Dubrovacka Bay near Dubrovnik.

EPC contract advice to retro-fit coal fired power stations with 'green' technology

We advised an American specialist engineering contractor on EPC contracts to retro-fit existing coal fired power stations with 'green' technology. These contracts were based on various FIDIC, NEC3 and bespoke terms. We also offered additional advice on joint venture arrangements with other specialist contractors.

Construction and funding arrangements for rural anaerobic digestion facilities

We advised two developers in connection with their construction and funding arrangements for rural anaerobic digestion facilities. Both contracts required the preparation and negotiation of bespoke EPC contract terms, direct agreements and other supporting documents.

SGD$325 million project financing

In a SGD$325 million project finance for development of an aromatics plant in Singapore, our team acted as Singapore counsel to the bank syndicate.

Representation for €50 million worth of sustainable energy projects

Withers have represented a multilateral agency as lead international counsel on €50 million worth of sustainable energy projects. This representation included the securing of loans to companies in Albania, Serbia, Kosovo, Bosnia, Macedonia and Croatia for the development of hydro power plants, a biomass plant, and to support energy efficiency improvements.

SGD$45 million industrial construction project

We acted for a bank in the financing of up to SG$45 million involving the construction of an industrial project on Jurong Town Council land in Singapore.

International school in Singapore

We acted for a bank in the financing to an international school in Singapore for the construction of an additional building to its existing campus.

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