DLA Piper advises Market Tech Holdings on its £900 million financing of its Camden Markets Portfolio

DLA Piper has advised Market Tech Holdings on its £900 million secured debt facility arranged by AIG Asset Management (Europe) Limited.  Market Tech Holdings owns 14 acres of iconic London real estate assets, including the main Camden Markets, with digital capabilities to deliver commercial, residential, living, leisure and retail space.

The financing is another example of DLA Piper's relationship with Market Tech Holdings, having advised the company on its AIM IPO in December 2014  (the largest AIM IPO in 2014), its £112.5 million convertible bond issuance in March 2015 and its £196.9 million placing (net of expenses) in July 2015.

Martin Bartlam, Head of UK Finance at DLA Piper said: "We are delighted to have concluded this significant financing for Market Tech which establishes a source of flexible funding that complements Market Tech's future growth strategy. This transaction certainly demonstrates the firm's market leading real estate finance expertise."

Paul Jayson, Real Estate partner at DLA Piper, said: "This financing project has been a landmark deal, not least because it represents one of the largest real estate refinances of 2015. It also shows that the appetite of American insurers for UK property is growing, which is a trend we expect to continue in the coming year." 

The DLA Piper team comprised:

Real Estate Finance: senior associate Chris Chan, alongside partner Paul Gray and associate Luke Murphy.

Real Estate: led by partner Paul Jayson with legal directors Sally Whitney and Earle Brady, senior associates Ben Connor and Ben Battell and associates Rosemary McSwiney, Josh Warner, Sarah Finnigan, Sophie Stewart and Emma Thomas.

Corporate: partners Rob Salter and Stephen Atkinson with legal director Paul Routledge and associate Sarah Blackman.