Trowers & Hamlins has advised North Star Housing Group on a refinancing deal worth £110 million.
North Star is based in the North East of England and provides affordable housing, invests in its communities and develops new homes across the Tees Valley, North Yorkshire and County Durham. The restructure and refinance will help North Star develop 600 new homes over the next eight years, adding to the current stock of just under 4,000 units owned and managed by the organisation, placing North Star in a strong position for the future.
The refinance was linked to the consolidation of the group’s legal structure in which three Registered Providers, Teesdale Housing Association, Darlington Housing Association and North Star Housing Group (the previous parent RP) transferred their engagements into Endeavour Housing Association, which has been re-branded North Star Housing Group.
The banking team was led by partner Neil Waller (Picture) with associate Jane Kirkham assisting. The governance team was lead by partner Sharron Webster with senior associate Anna Moore assisting. Melanie Comer, partner, led on all property aspects, working with senior associate Lauren Mason-Smith.
The team worked closely with North Star’s financial advisors, Centrus in order to secure the best position for them.
Involved fees earner: Melanie Comer – Trowers & Hamlins; Jane Kirkham – Trowers & Hamlins; Lauren Mason-Smith – Trowers & Hamlins; Neil Waller – Trowers & Hamlins; Sharron Webster – Trowers & Hamlins;
Law Firms: Trowers & Hamlins;
Clients: North Star;