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Travers Smith advises Ingenious Real Estate Finance on a £25 million senior revolving credit facility

Overview

Travers Smith LLP has advised Ingenious Real Estate Finance (Ingenious) on a £25 million senior revolving credit facility, with a £10 million accordion. The facility is provided by Shawbrook Bank (Shawbrook) and will support a strong pipeline of bridge and development finance loans, providing Ingenious with committed capital funding to pursue growth.

The Ingenious Group was founded in 1998 and is one of the UK's leading private alternative investors, having managed the deployment of over £9 billion of capital into the real estate, infrastructure, media and education sectors. Ingenious is focused on mid-market stretched senior bridging and development finance on residential and commercial development projects located primarily in London, the South East and other major regional centres of England and Wales and their commuter belts. Since launching in 2013, the specialist lender has deployed over £500 million and has assisted in the development of over 2,400 units.

The Travers Smith team was led by Partner Charles Bischoff with support from Senior Associate Laura Smith and Trainee Eleanor McCann. Senior Associate Daniel Domb is currently on secondment at Ernst & Young LLP (EY) and was part of the financial advisory team.

EY was the sole financial advisor to Ingenious. Shawbrook was advised by Ashurst LLP.

Howard Sefton, Investment Director at Ingenious, said "Ingenious is delighted to have worked with Travers Smith and EY to agree this key strategic partnership with Shawbrook. This new facility will assist in funding further growth in our real estate-backed development and bridge finance business in 2021 and beyond."

Charles Bischoff, Finance Partner added "This is the latest in a series of speciality finance deals on which we have advised in 2021 involving property bridging and development lenders, emphasising the growing demand for funding on a variety of property projects. We have strong, longstanding relationships with Ingenious and both the EY and Shawbrook teams and this undoubtedly contributed to a smooth transaction and a strong start to 2021 for Ingenious."

Travers Smith previously advised Shawbrook on facilities made available to Pivot Finance and KHK Capital.

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