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About Patricia

Patricia advises clients on all aspects of projects and housing finance and funding. She acts for Registered Providers, charitable and non-charitable entities, SPVs funders and also corporates. She has particular expertise in bi-lateral and syndicated lending (including non-bank lending), joint ventures and development finance, security trustee structures, group restructuring, bonds, stand alone hedging and ISDA agreements and all aspects of security.

Patricia acts for both borrowers and lenders in corporate lending transactions.

Recent Experience

  • Acting for Hollybrook Limited in relation to the financing of a JV residential development
  • Acting for B3 Living Limited in relation to its debut bond issue and subsequent private placement
  • Acting for Circle Housing Group in relation to funding for a JV development
  • Acting for Goldencross Partnership in relation to the financing of the acquisition of 6 petrol stations
  • Acting for the Roman Catholic Diocese of Westminster in relation to the funding of the acquisition and development of a property for (choir) schools

Professional Memberships

  • Law Society of England & Wales
  • Board member of New World Housing Association

Career Experience

2011 to present: Partner, Winckworth Sherwood

2004 to 2011: Solicitor, Winckworth Sherwood

1998 to 2004: Assistant Solicitor, Denton Wilde Sapte

1996 to 1998: Trainee Solicitor, Wilde Sapte

Latest Case

Paradigm/LINQ

Genesis Housing and LINQ Partners (a private investment entity created by housing finance specialists Centrus Advisors) have co-sponsored LINQ Housing. This new entity has been set up to support housing associations in the development and financing of mixed tenure housing – including affordable, shared ownership, market sale and market rent. LINQ Housing is funded by a mix of equity investment, from each of the co-sponsors, and long-term debt, from M&G Investments.

The aim of LINQ Housing is to acquire rental properties and hold them on a long term basis, providing true off balance sheet treatment for the properties acquired without the need for guarantees from existing corporate entities. These properties may be acquired from a range of housing associations, local government and developers.

LINQ Housing launched in March 2016 by purchasing from Genesis Housing market rental properties in two multi tenure schemes in London: 50 flats at Zenith House, Colindale and 27 flats at Mildmay regeneration scheme, Shoreditch. Genesis Housing has transferred these long term housing assets to LINQ Housing (and so moved them off balance sheet) whilst retaining a full management role over these properties.

 

Winckworth Sherwood advised Genesis Housing on the transaction, providing expertise across a number of areas, including Corporate (James Duncan), Property (Andrew Murray) and Finance (Louise Leaver).

Louise, who is Head of Housing Finance at Winckworth Sherwood, notes that this scheme offers a new and efficient long term funding structure for Genesis Housing: “Housing Associations and Councils have great potential to develop and manage properties on a long-term basis, but restrictions and covenants in existing loan portfolios can make it challenging to realise that potential. This project required great teamwork from all parties involved and is an exciting step in unlocking the sector’s ability to develop and manage properties in a sustainable, responsible and long-term way.”

For further information please see the LINQ Housing website.