May 17, 2018 (London) – International law firm Proskauer advised Cheyne Capital Management and Vanderbilt Holdings Limited on the provision of an additional £12.5 million in funding to Vanderbilt Homes to support its growth plans. Proskauer also advised in relation to the refinancing of Vanderbilt Homes’ senior debt with Barclays and RBS, who extended their £35 million revolving credit facility for an additional three years.
This new capital injection, combined with existing capital in the business, will allow Vanderbilt to build on its significant recent growth and make an investment of more than £45 million in new land acquisitions in order to be able to develop residential housing in areas where there is significant shortage of supply.
Vanderbilt Homes is a Home Counties property developer, with developments in South East locations including Surrey, West Sussex, Berkshire, Hampshire, Buckinghamshire and Oxfordshire.
The Proskauer team was led by partners Ben Davis (Private Credit), Paul Lucas (Real Estate Finance), Vikki McKay (Private Equity Real Estate) and Liam Arthur (Private Equity and Mergers & Acquisitions) and also included associates Lauren Bretton (Private Equity and Mergers & Acquisitions) and Charlotte Boylin (Real Estate Finance).