Cains acts for the lenders in largest PRS development investment in the UK

Cains has acted for HSBC (as senior lender) and Homes and Communities Agency (as mezzanine lender) on a development financing to Dandara Group, an Isle of Man developer, providing 2,000 private rental homes in Birmingham, Leeds and Manchester. It is estimated that up to 1,500 construction jobs could be created across the three cities as a result of this project and it has an estimated value of almost £400 million.

Steven Quayle acted for the senior lender; and Mike Edwards and Stephanie Chew acted for the mezzanine lender.