Stephen Cross

Stephen Cross, Sinead Stewart, Rebecca O’Flaherty and Caitriona Fitzpatrick of the firm’s banking & finance team recently advised the Department for Communities in connection with its £61.5 million funding arrangement with Maple and May, supporting the delivery of a new supply of affordable rented homes across Northern Ireland.

The first homes will be in Dungannon, with further developments planned this financial year in Newry, Craigavon, Lisburn and Londonderry. Additional locations, to include Belfast, are projected in the future years of the programme.

The team’s work involved the careful structuring of bespoke legal and commercial arrangements underpinning the initiative. Working collaboratively with Maple and May’s advisors, the team ensured that risk allocation was appropriate, accountability mechanisms were clearly defined, and the department was positioned to achieve its policy objectives effectively.

Commenting on the transaction, Mr Cross, head of the banking and finance said: “It is an honour for us to play a role in a transaction that will deliver real, lasting benefits for the people of Northern Ireland, particularly in helping to secure high-quality, affordable housing.”