Dentons has advised community housing provider (CHP) Bridge Housing on a $40m loan from the National Housing Finance and Investment Corporation (NHFIC) which will maintain almost 300 social and affordable dwellings across Sydney.
The 10-year low-interest loan will enable Bridge Housing to refinance its existing projects and fund new ones. Bridge Housing estimated that NHFIC’s finance will save the CHP $7m in interest payments over the life of the loan.
Dentons partner Anthony Walsh led the deal team, with assistance from solicitor Mason Zhang and graduate Faraz Rashid.
Walsh said the funding was critical to helping accelerate and increase the supply of social housing.
“Dentons is highly sought after for its banking and finance experience and we were very pleased to advise Bridge Housing on this important loan,” said Walsh. “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.”