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Lawrence Stephens completes £6.5M transaction for SBIUK

Lawrence Stephen’s Real Estate Finance and Banking teams acted on behalf State Bank of India UK Ltd (SBIUK) on the completion of a £6.5m loan to finance the acquisition of a mixed use property portfolio. Read more...

Lawrence Stephen’s Real Estate Finance and Banking teams acted on behalf State Bank of India UK Ltd (SBIUK) on the completion of a £6.5m loan to finance the acquisition of a mixed use property portfolio.

The Banking team was led by Ajoy Bose-Mallick, Head of Banking, with support from Rhiannon Hughes, and Andreas Panteli, Director in Real Estate Finance, who led on the property aspects, and was assisted by Stavros Theophilou and Sona Shah. The team worked efficiently to ensure the complexities of the case were dealt with seamlessly, and to ensure the transaction was completed within the tight deadline.

The team managed the complex deal structure with final changes agreed just 48 hours before completion, and all parties pulled together to meet the completion date. On the day of completion, Andreas Panteli was able to work closely with SBIUK in their offices to ensure the transaction was completed on time.

Gregory Palos, Head of Real Estate Finance at LS comments: “The completion of this complex deal within the tight deadline is evidence of the capabilities of our Real Estate Finance and Banking teams. Working with us the team at SBIUK played a pivotal role in getting this deal across the line. It is always a pleasure working with SBIUK”.

Ajoy Bose-Mallick, Head of Banking at LS comments: “It was phenomenal to see the Lawrence Stephens team come together and work seamlessly with the credit team at SBIUK to ensure a successful completion under challenging time constraints. What became clear is that regardless of the additional complexities, the bank’s willingness combined with our cohesive team efforts meant a successful completion for SBIUK”.

Abhishek Sahay, Chief Business Officer SBIUK comments: “SBIUK is always striving to deliver value for its customers and other stakeholders. It was a good experience to see SBIUK and LS come together and ensure that this transaction was completed on time. With transactions such as these which have tight deadlines, it is vital for us to have a law firm who is responsive and can efficiently ensure that we meet the client’s deadlines. We are looking forward to continue serving our customers efficiently in this space.”

If you would like to discuss any of the topics raised in the above article, please call us on +44 (0)20 7936 8888, email on enquiries@lawstep.co.uk or contact a member of the team below.