Travers Smith LLP has advised long-standing clients Hamberley Care Homes and Patron Capital, the pan-European institutional investor who back Hamberley, on Hamberley's innovative £210 million long-term refinancing deal with UK & European private credit investor Song Capital.
The bespoke financing structure included a restructuring of the group's property interests and long-term ground leases and is secured against 11 of Hamberley’s modern, luxury care homes. Completion of the transaction marks the start of the next phase of the group’s ambitious development plans.
The transaction was led by Finance Partner Danny Peel and Real Estate Partner Gareth Wynne, with finance support provided by Senior Associate Alastair Lowson and Associate Charlie Gerlack; and real estate support provided by Senior Counsel Catherine O'Driscoll, Senior Associates Emma Sykes and Hattie Assmundson, Associates Seren Williams, Matthew Williams and Niall Fitzpatrick, and trainees Harry McClean and Eleanor Bufton Lowe. Specialist support was provided by Head of Construction Edward Colclough and Head of Planning Jamie McKie.
Tim Street, co-founder and a Director of Hamberley Care Homes, said: “This refinancing will allow us to deliver on the next phase of our ambitious growth plans for Hamberley Care Homes. Danny [Kay – co-founder with Tim Street] and I are immensely proud of the business we have built to date and now we are in a position to develop the next generation of leading-edge care homes for communities across the UK. Over the last decade Hamberley has set a new benchmark for the delivery of premium care environments. This long-term capital deal will ensure that our team can keep pushing those standards to provide the very best support for the families who we are proud to provide care for.
“We would like to thank Travers Smith for their hard work and for the expertise they brought to this innovative transaction. We have a long-standing relationship with the team, and we very much value their insight and advice.”
Finance Partner, Danny Peel commented: "We are delighted to have advised Hamberley and Patron on this complex, innovative and strategically important transaction, which very much played to our strengths."
Real Estate Partner, Gareth Wynne commented: "This deal stands out as an example of client and firm working in tandem to achieve the required outcome and creates a platform for the continued growth of Hamberley. We look forward to seeing that growth and continuing to support them on their journey going forwards"
