Login
Powered by
MOMENTUM
MEDIA
Powered by MOMENTUM MEDIA
Dentons has advised Bridge Housing on a $40 million loan from the National Housing Finance and Investment Corporation (NHFIC) which will maintain almost 300 social and affordable dwellings across Sydney, NSW.
Firm: Dentons (Bridge Housing)
Value: $40 million
Area: Finance
Key players: Dentons partner Anthony Walsh led the deal team, and was assisted by solicitor Mason Zhang and graduate Faraz Rashid.
Deal significance: Bridge Housing is a community housing program.
According to a statement from Dentons, the 10-year low-interest loan will enable Bridge Housing to refinance its existing projects and fund new ones. It is estimated that NHFIC’s finance will save the CHP $7 million in interest payments over the life of the loan, the firm said, noting the NHFIC loan will be split into two allocations with the first being used to refinance Bridge Housing’s existing development program.
The second allocation, the firm said, will be used to develop 16 townhouses in Dulwich Hill as well as the acquisition and refurbishment of eight units in Punchbowl, at a total development cost of approximately $12.6 million.
“Dentons is highly sought after for its banking and finance experience and we were very pleased to advise Bridge Housing on this important loan," Dentons partner Mr Walsh said.
“The loan not only provides Bridge Housing with low cost, long term, stable finance, but it also gives them the opportunity to focus on potential new projects.
“The financing from NHFIC will be able to get these new projects over the line in which otherwise would not have been able to happen.”
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
Email Emma on:
Get breaking news
Emma Musgrave
