BLP advises Highbridge and Urban Exposure – City Road
International law firm Berwin Leighton Paisner (BLP) has advised Highbridge Principal Strategies and Urban Exposure on their mezzanine loan to part finance the £400,000,000 development of the Atlas Building on City Road, EC1 into a 40-storey mixed use tower scheme.
The completed scheme will be the tallest building in the area and comprise over 300 flats as well as approximately 90,000 square feet of office space, shops, cafes and restaurants.
Senior debt will be provided by a syndicate led by Lloyds Bank and the transaction involves complex intercreditor arrangements spanning both, and quite unusually, the development phase as well as the post-development phase of the scheme.
Naveen Vijh led the Real Estate Finance team, assisted by Lydia Boos and Joseph Wong and with cross-departmental support from the Real Estate, Rights of Light, Planning, Construction and Tax teams.