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Edwin Coe is pleased to announce that it has advised loan servicer Mount Street Mortgage Servicing in connection with the acquisition of Project Mercatus, a portfolio of shopping centre loans, from Natwest.

Mount Street will service the loans on behalf of a consortium, which comprised Attestor Capital, an experienced purchaser of loan portfolios, Ellandi, an experienced asset manager of such properties, and Octane Capital.

The Project Mercatus portfolio comprised debt of over £400 million, and is secured on institutionally owned shopping centres.

Mount Street is a global provider of loan servicing solutions to investors and lenders across a wide range of credit markets.

James Walton, finance partner at Edwin Coe commented “It was a pleasure to work on this transaction with the experienced team at Mount Street, and alongside the lawyers representing the consortium members. This is the first significant acquisition of distressed UK property loans post-Covid, and no doubt there will be further NPL trades to follow, as trading conditions in certain sectors continue to create challenges for lenders.

About Edwin Coe

Edwin Coe LLP is a full service law firm based in the heart of London’s historic legal district in Lincoln’s Inn. Founded in 1913, we have grown from our litigation origins to become a thriving and dynamic practice, providing a comprehensive range of legal services to meet the needs of a wide variety of businesses, individuals and organisations based throughout the UK and internationally.

With 40 partners, we are ranked 115 in the 2021 edition of The Lawyer ‘UK 200’ law firms and are recommended in all the major legal directories. We provide clients with innovative, tailored and integrated legal services and combine a highly personal and responsive service with industry leading expertise.

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