LizSaxton

Of Counsel

London + 44.20.7039.5162

Liz Saxton has more than 25 years of experience advising on a wide range of finance transactions, with a particular focus on UK and cross-border real estate finance.

Liz regularly advises borrowers of all types, including several listed property companies, cutting-edge joint venture structures, and real estate funds, on the full range of their debt financing requirements. These include subscription and equity bridge facilities (both in and outside the real estate sector), facilities for investment and development properties, and corporate-level revolving facilities across all market sectors, including retail, offices, industrial, logistics, and residential. In addition Liz regularly advises on derivative transactions, including those linked to debt facilities and on a stand-alone basis.

Recent notable transactions have included advising LondonMetric Property in connection with a £400 million unsecured revolving credit facility from a club of five lenders coordinated by The Royal Bank of Scotland and advising a joint venture between a UK-based real estate company and a Canadian institutional investor on an acquisition facility used to purchase a portfolio of nine prime logistics assets in the UK for £286 million. She also has advised a newly established real estate fund on a US$250 million subscription-based credit facility provided by Wells Fargo and a UK-listed property company on the innovative hybrid financing of its pan-European portfolio of assets.

Experience

  • Consortium of senior creditors provide €700 million to Northwester 2 for development of Belgian offshore wind farmJones Day advised the consortium of senior creditors consisting of Belfius Bank SA/NV, BNP Paribas Fortis SA/NV, Coöperatieve Rabobank U.A., De Volksbank N.V. trading as ASN Bank, ING Belgium SA/NV, KBC Bank NV, Société Générale, Sumitomo Mitsui Banking Corporation, Brussels Branch, Triodos Bank, the European Investment Bank, and EKF Danmarks Eksportkredit, in the financing of Northwester 2's €700 million (US$804.8 million) total required investment for the development and construction of a 218.5 megawatt offshore wind farm to be located approximately 50 kilometers off the Belgian coast.
  • LondonMetric obtains £400 million credit facilityJones Day advised LondonMetric Property Plc in connection with a £400 million (US$592 million) unsecured revolving credit facility from a club of five lenders coordinated by The Royal Bank of Scotland plc.
  • Hansteen Holdings obtains £65 million revolving credit facilityJones Day advised Hansteen Holdings PLC in connection with a £65 million (US$100.7 million) revolving credit facility provided by The Royal Bank of Scotland plc acting as agent for National Westminster Bank Plc.
  • Nick Weber forms Henderson Park Capital ManagementJones Day represented Nick Weber in the formation of Henderson Park Capital Management, a London based private equity real estate asset management platform. Stone Point Capital, a Connecticut-based private equity firm, Kuwait Investment Authority, a sovereign wealth fund, and Wafra Investment Advisory Group, a New York and Kuwait-based investment manager, are the cornerstone investors in the management company.
  • Oxenwood Real Estate amends and restates £40 million term loan facilityJones Day represented Oxenwood Real Estate LLP in the amendment and restatement of a £40 million (US$53.7 million) term loan facility with The Royal Bank of Scotland Plc in connection with the refinancing of the acquisition of a logistics property in Scunthorpe.
  • Hansteen disposes German and Dutch portfolio for €1.28 billion (US$1.4 billion)Jones Day advised Hansteen Holdings PLC in the disposal of its German and Dutch property portfolios and real estate management business for €1.28 billion (US$1.4 billion) to entities owned by funds advised by affiliates of The Blackstone Group L.P. and M7 Real Estate (the "Buyer").
  • Oxenwood Real Estate acquires £286 million (US$366.9 million) Ultrabox logistics portfolioJones Day advised Oxenwood Real Estate LLP on its joint venture with a Canadian institutional investor and the acquisition by that joint venture of the Ultrabox portfolio of nine prime logistics assets in the UK totaling 3.87 million sq. ft. for £286 million (US$366.9 million).
  • Oxenwood Real Estate obtains secured term loan facility to refinance UK property portfolio and acquire additional propertyJones Day advised Oxenwood Real Estate LLP in relation to a secured term loan facility provided by The Royal Bank of Scotland plc to refinance an existing UK property portfolio and to finance the acquisition of a further property.
  • Hansteen acquires remaining £39.5 million (US$51.8 million) of AIF unitsJones Day advised Hansteen Holdings PLC in its £39.5 million ($51.8 million) acquisition of a further 86.5 million units in Ashtenne Industrial Fund Unit Trust (AIF).
  • Oxenwood Real Estate obtains financing for acquisition of logistics facility in SheffieldJones Day advised Oxenwood Real Estate, LLP, a UK real estate investor, in its joint venture with Catalina Holdings in connection with the financing for the acquisition of a newly constructed 134,400 sq ft 'last mile' logistics facility in Sheffield let to a major internet retailer and the related financing of that asset by the joint venture.
  • Ted Baker amends and restates existing revolving credit facilityJones Day represented Ted Baker plc, a UK fashion retailer, in connection with the amendment and restatement of an existing revolving credit facility.
  • China Vanke acquires stake in The Stage, ShoreditchJones Day advised China Vanke Co., Ltd., a large residential real estate developer, in connection with its debut European investment relating to a Cain Hoy Enterprises-led consortium behind The Stage, a £750 million Shoreditch development.
  • Hercules Unit Trust sells Parkgate Shopping Park in RotherhamJones Day assisted Hercules Unit Trust with the £175 million ($270.6 million) sale of Parkgate Shopping Park, a 42-unit retail park in Rotherham, to BMO Real Estate Partners.
  • Hansteen sells HPUT II for £192.1 million (US$301.7 million)Jones Day advised Hansteen Holdings PLC in connection with its £192.1 million (US$301.7 million) sale of Hansteen UK Industrial Property Unit Trust II, a UK multi-let predominantly industrial property portfolio, to a fund advised by Brockton Capital LLP in a partnership with Dunedin Property.
  • Oxenwood Real Estate acquires distribution warehouse from DHLJones Day advised Oxenwood Real Estate LLP and its joint venture partner Oxenwood Catalina Limited in connection with the acquisition of a distribution warehouse from DHL.
  • Highcross Group sells assets of Highcross Regional U.K. Partners and Highcross Regional U.K. Partners III to Northwood InvestorsJones Day advised Highcross Group Limited in connection with the £635 million (US$1 billion) sale of the assets of Highcross Regional U.K. Partners and Highcross Regional U.K. Partners III to Northwood Investors, a U.S.-based fund management company, and its advised institutional real estate fund.
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