Thomas Golding

Cases

• Advising on the acquisition and funding of over 100 sites for redevelopment, as large residential care homes, with a developed value of over £400 million and the sale of many of these to institutional and operator purchasers.
• Acting for the seller / tenant on the sale and leaseback of six new build residential care homes for a combined value of £30 million to an institutional fund (including negotiation of institutional 35 year lease).
• Led the property aspects of a £100 million+ refinancing and restructuring of national care home group, as part of a wider banking and corporate team.
• Acting on the property aspects of a £51 million institutional debt refinancing transaction for care home operator and developer.

Thomas acts for a wide variety of developers on the acquisition, funding and disposal (including sale and leaseback) of property. He works across a wide variety of sectors; including residential development, student accommodation and multi-use schemes.

Thomas does, however, have extensive and particular expertise in dealing with real estate development transactions in the private care sector. He has acted on the acquisition of over 100 sites for care development over the last decade. This includes deals involving conditional purchase contracts, option agreements, sub-sale transactions and portfolio acquisitions.

Recent Work

• Advising on the acquisition and funding of over 100 sites for redevelopment as large residential care homes, with a total/aggregate developed value of over £400 million; along with the sale of many of these to institutional and operator purchasers. Sites have been acquired on conditional contract basis, option basis, auction basis and site assembly basis. Many sites have been part of wider estates and part of wider development masterplan with cross rights and obligations.
• Led a multidisciplinary team (including tax, construction and banking) on the complex acquisition (site assembly), development funding and sale to institutional investment fund of a state-of-the-art £9 million care home in the south of England.
• Acting for a developer on the freehold site assembly of residential development schemes – including on the basis of conditional contracts and option agreements. This included the legal scheme set-up for residential plots to be constructed by the developer.
• Advising on the acquisition and funding of over 200 sites for redevelopment as large residential care homes, with a total/aggregate developed value of over £2 billion, along with the sale of many of these to institutional and operator purchasers. Sites have been acquired on conditional contract basis, option basis, auction basis, and site assembly basis. Many sites have been part of wider estates and part of a wider development masterplan with cross rights and obligations.
• Led a multi-disciplinary team (including tax, construction, and banking) on the complex acquisition (site assembly), development funding, and sale to institutional investment fund of a state-of-the-art, £9 million care home in the South of England.
• Acting for a developer on the freehold site assembly of residential schemes – including on the basis on conditional contracts and option agreements. This included the legal scheme set-up for residential plots to be constructed by the developer.
• Acting for a major student accommodation provider in relation to a £35 million refinancing involving two principal lenders and one mezzanine lender.
• Acting for the seller/tenant on the sale and leaseback of six new build residential care homes for a combined value of £30 million to an institutional fund (including negotiation of institutional 35-year lease).
• Led the property aspect of a £100 million + refinancing and restructuring of a national care home group, as part of a wider banking and corporate team.
• Acting on the property aspects of a £51 million institutional debt refinancing transaction for care home operator and developer.

Thomas has acted on a variety of real estate finance transactions – on both bank and borrower sides. He has acted on finance matters involving traditional high street debt lenders, mezzanine funders and also financing transactions involving specialist investment vehicles such as REITs (both UK and US based). Thomas has also acted as part of corporate and banking multidisciplinary teams as part of complex funding structures (including dealing with company / group demergers and restructuring).

Thomas has particular experience in care sector financing, in particular relating to institutional sale and leaseback transactions.

Recent Work

• Acting for a major student accommodation provider in relation to a £35 million refinancing involving two principal lenders and one mezzanine lender.