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Macfarlanes advises Venn on its appointment as delivery partner for £3.5bn private rented sector guarantee scheme

16 Dec 2014

Macfarlanes has advised Venn Partners, an asset manager of real estate and other secured credit, on its appointment by the Secretary of State for the Department for Communities and Local Government to operate the £3.5bn ‘Private Rented Sector Housing Guarantee Scheme’.

Venn will be responsible for establishing and managing the Scheme, including origination, underwriting and on-going management of the loans, and developing and managing a new Government guaranteed bond programme to efficiently fund them. Macfarlanes will also be advising Venn in relation to the establishment of the bond programme.

This matter involved lawyers from across Macfarlanes, drawing on expertise in real estate finance, including private rented sector "PRS" specific knowledge, debt capital markets expertise, tax and competition.

The Macfarlanes team was led by tax partner Damien Crossley and banking and finance senior solicitor Richard Fletcher and also involved commercial competition partner Malcolm Walton and tax senior counsel Hilary Barclay.

Damien Crossley comments: “We are delighted to have been able to assist Venn Partners on such an important mandate and we look forward to supporting them in relation to the start of the scheme and the establishment of the bond programme.”

Matter Type
Corporate
Industry
Real Estate & Construction
News Category
Corporate & Commercial
Real Estate & Construction