Shoosmiths advises Santander on financing facility for Scottish retail park

Shoosmiths has advised Santander UK on a financing agreement for Riverway Retail Park in Scotland, provided to David Samuel Properties and brokered by GDP Funding.

The law firm advised on the banking and real estate elements of the transaction, including drafting the facility agreement and security package, property due diligence, and coordinating the redemption of existing facilities.

This deal marks the latest in a series of financing transactions between Santander, GDP Funding and DS Properties. Shoosmiths previously supported the bank in providing loans for two Retail Parks in Derry, as well as a Retail Park in Doncaster.

Shoosmiths’ banking team was led by partner Liz Sweeney, with principal associate Sam Jadhav, senior associate Hannah Tinsley, associate George Finlay, trainee solicitor Nurul Amin, and paralegal Hannah O’Brien all contributing to the transaction. Partner and real estate finance co-head Sheelagh Cooley also helped lead the deal, working alongside legal director Gillian Ralph, principal associate Megan McDonald, and trainee solicitor Yusuf Qureshi. Graham Yates, Director – Real Estate Finance, led for Santander.

Liz Sweeney, banking and finance partner at Shoosmiths, said:

"We’re pleased to have supported Santander on another key financing transaction with DS Properties. This deal showcases our banking expertise and ability to provide clients with commercially focused, end-to-end support on real estate funding projects of this nature."

Sheelagh Cooley, partner and real estate finance co-head at Shoosmiths, added:

"This agreement provides important new financing for Riverway Retail Park. Shoosmiths’ cross-practice approach meant our banking and real estate finance teams worked seamlessly to deliver a smooth process – helping to structure and secure a deal that supports our client’s lending objectives, as well as the ongoing operation of the asset."