Expertise

Paul is a Real Estate Finance Partner within the firm's Finance Department. He has extensive experience of banking and finance, specialising in UK and cross border real estate finance, specifically focused on Asia investors and institutions.

He acts for numerous financial institutions and investors based in the UK and Asia on a wide range of matters including many leading providers of senior and mezzanine debt finance to the real estate sector as well as numerous sponsor/investor and developer clients based in the PRC, Hong Kong, Singapore and Malaysia. Clients include AgFe, Bank of London and The Middle East, Castle Trust,Criterion Capital Group, C C Land, Lembaga Tabung Haji, Helaba,Hengli Group, HSBC, Industrial and Commercial Bank of China (ICBC), Santander, Secure Trust Bank , Sumitomo and Wellesley Finance Limited.

Paul is recognised by independent commentators as one of the UK's leading real estate finance lawyers.

Experience

Significant transactions handled by Paul include:

  • ACT Group/Criterion Capital on a £1 billion syndicated facility from Aviva Commercial Finance Ltd secured on a £2 billion portfolio, including London Trocadero and Criterion Theatre/Buildings, Piccadilly, Slough Shopping Centre and East India Dock
  • Bayerische Landesbank and a multibank syndicate in relation to the funding of the £557 million acquisition by funds managed by JP Morgan Asset Management of Bishops Square, Spitalfields, London E1, comprising a 850,000 sq ft office development let to international law firm, Allen & Overy
  • CC Land Holdings Limited, one of the largest real estate developers in the PRC/Hong Kong and owner of the London's "Cheesegrater" (The Leadenhall Building) on two debt facilities of secured on 1 Kingdom Street, London
  • Cheung Kei Group's £270 million acquisition and financing (senior and mezz) of 5 Churchill Place in London's Canary Wharf
  • Dandara Group Holdings Limited in connection with its senior and mezzanine facilities from HSBC Bank and Homes and Communities Agency in relation to the UK's largest single "build to rent" development portfolio platform in the PRS sector with development schemes in Manchester, Leeds and Birmingham comprising over 2000 units and with a planned refinance from the Governments residential bond programme (PRS Housing Guarantee Scheme)  managed by Venn Capital Partners LLP
  • Employees Provident Fund of Malaysia on its £132 million syndicated murabaha facility from Standard Chartered Bank secured on a portfolio of 5 properties
  • GR Property Limited, a listed Hong Kong property investor, on the funding  of Juxon House St Paul's
  • Helaba, which involved a £197 million syndicated facility to LondonMetric Property plc secured on ten retail distribution centres with a value exceeding £220 million
  • Hengli Group on its financing of Lloyds Bank HQ , 25 Gresham Street London
  • Helaba and Handelsbanken on a £325 million syndicated facility to Tesco British Land Properties Ltd (a joint venture between Tesco plc and British Land) secured on a portfolio of eight Tesco tenanted shopping centres
  • Tabung Haji on a £225 million syndicated Murabaha facility to finance 151, Buckingham Palace Road, London and another landmark building in Gresham Street, London
  • United Overseas Bank on its £130 million facility to a JPUT structure secured on Intu Shopping Centre Uxbridge
Testimonials

"Deemed by peers as "personable, outgoing and extremely commercial", Salsbury has a broad based practice anchored by strong lender-lead work.”

"Salsbury wins market approval as a highly active deal maker and [is] acclaimed for his "no nonsense approach and can do attitude", [ for being] "not just a high-brow technical lawyer but also commercial, and "knowing what's important and never wasting time on the small stuff"."

"[He] has an absolutely incredible depth of knowledge; he can advise instantly about the most specific questions concerning any transaction he is working on."
Chambers

"Outstanding"
The Legal 500

"Acknowledged expert in Legal Experts 2011"
Legal Business