Clare splits her time working in the banking and finance sector and the property investor group at Clarke Willmott and specialises in real estate finance (both investment and development) and all aspects of property investment from acquisition of an asset, management and through to disposal. She deals with all aspects of secured lending acting for a mixture of high street and challenger banks and mezzanine funders and has extensive experience in the commercial property field in particular freehold sales and acquisitions, investment portfolio management and re-gears and matters arising from landlord and tenant relationships acting for investment and retail clients. She is able to see things from all sides having acted for a mix of purchasers, sellers, banks and borrowers which enables her to provide a quick and commercial service.
Instructed Bank of America/Merril Lynch’s Boston lawyers to carry out due diligence on 6 data centres based in London as part of Digital Realty Trust Inc’s acquisition of eight data centres across Europe from Equinix Inc. for about $874 million following Equinix’s acquisition of Telecity Group Plc. Clare led a team of 7 lawyers across three of our offices following receipt of instructions Friday evening to carry out property due diligence on 6 London data centres on behalf of Bank of America/Merril Lynch to be completed by the Monday morning. The team worked all weekend taking part in numerous cross-border conference calls and carried out the diligence exercise in order to finalise reports to the bank within the deadline.
Acting for property owner in the sale of a fully let office building in the East Midlands for in excess of £5M. Dealing with the preparation of various collateral warranties, complex title deduction and separating the property from various services provided from a larger estate so that it could be owned and occupied on a self contained basis.
Advising investor client in connection with the release of a high profile PLC tenant in one of its investment properties. Settling an early dilapidations claim in the region of £4M in return for a release for the tenant from certain repair covenants in the lease. Included detailed lease variation to ensure no further dilapidations liability could accrue.
Advising retail client in connection with their acquisition of a portfolio of properties from administrators.
Acting for private bank in the refinance of a mixed portfolio of properties located in around London comprising 63 residential units and 21 commercial units with total value of £19M. Negotiating loan facility in the sum of £12.5M, legal charges over all properties and personal guarantees from borrower’s principal, cross guarantees between SPVs and title due diligence on all properties.
Acting for the bank in perfecting security for two loan facilities (for refinance and redevelopment of former land registry office into residential apartments with parking). Included title due diligence, negotiating security documents (loan facilities, legal charge, personal guarantee and deed of priority for subordinated debt). Review of professional team appointments and negotiating forms of collateral warranties required by the bank from the borrower’s professional team