Travers Smith LLP has advised PineBridge Benson Elliot, a pan-European real estate private equity specialist (PBBE), on the financing of Mitheridge Capital Management's (Mitheridge) acquisition of a co-living development site in Hackney Wick.
Mitheridge, a London-based alternative investment firm, has teamed with London's leading co-living developer, Halcyon Development Partners, on the development. The facility provided by PBBE was used to part fund the acquisition of the site and will be used to fund planning costs, with a view to delivering 339 best-in-class co-living units, alongside employment floorspace, a new canal-side café restaurant and extensive public areas.
Head of Finance Danny Peel commented: "We are delighted to have advised long-standing client PBBE on the financing of this acquisition, supporting Mitheridge and Halcyon in the development of much-needed flexible and affordable high-quality housing in London."
The Travers Smith team was led by Head of Finance Danny Peel, Real Estate Senior Counsel Gareth Wynne and Finance Senior Counsel Laura Smith. Finance advice was provided by Associates Paris Taylor and Eilidh McTavish, and Trainee Jade Wheeldon-Scully. Real Estate advice was provided by Senior Associate Chris Towland and Trainee Gloria Cuccu.
