Clarke Willmott secures more than £250m for Bracknell's Silva Homes

Housing association Silva Homes, based out of Bracknell, was recently advised on the security for a £150 million bank refinancing deal and a £100 million private placement by attorneys from Clarke Willmott.

Additionally, Silva Homes was represented by Clarke Willmott with respect to £28.5 million package made available under the government-backed Affordable Homes Guarantee Scheme.

As part of the Berkshire-based association's ambitious intentions to build more than a thousand new houses over the next five years, Silva and financial services company Centrus also established a special fundraising strategy. In the south east, Silva now owns and maintains a portfolio of more than 7,000 properties.

Vicky Kells heads up the firm’s social housing sector and said this: “We are excited to have helped support Silva into its next stage of growth. The complex transactions included a refinancing package with three new facilities totalling £150 million which were completed simultaneously, and a private placement of £100 million."

"This involved extensive due diligence of Silva’s property portfolio and a multi-bank and investor process, which I am pleased to say was completed within Silva’s required timeframe.”

Clarke Willmott's Charlotte Lord, who specialises in property aspects of social housing finance, said this about the deal: “We are delighted to have played a part in supporting Silva through the legal process supporting the delivery of more affordable new homes.”

John Andrew is Silva's Executive Director of Finance and Procurement. He said: “Clarke Willmott provided us with great legal service. The team’s high level of expertise and slick project management was impressive and key to helping to speed the process along as much as possible."

"Vicky and her team provided us with a calm and clear-headed perspective and we felt in safe hands throughout the process. We look forward to further opportunities for Silva to work with Clarke Willmott in the future.”

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