Sally Cranshaw

Sally advises on complex, multi-jurisdictional financings and restructurings for institutional lenders and property investors, including structured term loans, development funding, cross-border asset-based lending, and high-value real estate acquisitions.

• Provided advice to a leading international financial institution relating to the provision of funding to a global group which specialises in the provision of logistics and supply chain services in the technology and automotive sectors. The multi-jurisdictional transaction involved several distinct elements including:
  1. initial provision of bridge finance c. US$25M;
  2. the subsequent extension of the liquidity facility by US$50M to assist with the restructuring process; and
  3. further complex restructuring for the purpose of providing a long-term solution to group solvency issues, which included the restructure the group through the use of a UK scheme of arrangement. New funding included the conversion of the existing liquidity facility into a new first out term loan (US$125M) (TLF), (ii) the conversion of an existing c. US$900M parent credit facility into a new second out term loan (US$225M and equity) and (iii) the provision of a new asset-based loan facility (US$135M), which included detailed new intercreditor arrangements and an additional collateral package being taken in relation.
• Advised a leading UK-based developer in connection with the entry into certain funding agreements with Luxembourg-incorporated funders relating to the proposed development of (i) c. 380-bed student accommodation on the site of a business park in Coventry (£40M) and (ii) a variety of student accommodation across a site comprising a portfolio of several freehold properties in Brighton (£63M).
• Advised Melford Capital in connection with a number of CRE acquisitions, related external financing and intra-group funding and subsequent disposals (asset and SPV) across a variety of asset classes, most recently including retail parks (Luton and Newbury), nursing homes (Bromley) and multi-tenanted asset, Great Western Studios.
• Assisted Greenridge Property Investment Limited in relation to various transactions involving the acquisition via IoM structures of a portfolio of properties including retail parks (Aberdeen and Elgin) and a mixed-use building (Capital Quarter, Cardiff), together with the associated intra-group and third-party financing. Also advised Greenridge in connection with the re-financing of 3M’s Headquarters, Bracknell. Total external funding c. £140M.
• Advised Clearbell Capital LLP in respect of various deals, most recently including (i) the disposal to Blackstone for £120M of the Cara portfolio comprising 22 logistics sites, (ii) the acquisition and related financing of 65 Kingsway (Grade II listed, Art Deco office building) and (iii) the purchase and associated funding of two Luxembourg SPVs which own retail parks in Stoke and Birmingham.
• Assisted Frogmore Real Estate Partners LLP with the Isle of Man legal elements relating to the client’s acquisition of Lingfield Point (an 85-acre business park in Darlington) from Clearbell Capital LLP and related external re-financing (£45M) post-completion.
• Advised a company (listed on the MDAX index) in relation to its provision of a short-term secured term loan facility of €324M to part-finance the acquisition by a BVI-incorporated property management company (from a consortium of Middle Eastern sovereign wealth investors) of a majority shareholding in an IoM fund (that ultimately holds a portfolio of circa 5,000 residential units in Berlin).
• Advised an independent property group on the re-financing (by AIG) of existing funding arrangements relating to (i) an extensive portfolio of properties in London (Basildon, Croydon, Bracknell, Norbury, Sutton and Colliers Wood) and associated provision of development funding in connection with certain of those properties (£257M) and (ii) a material portfolio of leisure properties (hotel, cinema, restaurants) in London’s West End (c. £280M).

Sally leads on complex real estate transactions, including acquisitions, disposals, restructurings, and financings involving office, retail, industrial, and logistics assets across the UK and Isle of Man.

• Advised a private equity firm in relation to its disposal of an IoM corporate vehicle which holds a portfolio of boutique serviced-office accommodation in London, including associated intragroup restructuring and required amendments to existing senior and mezzanine finance arrangements.
• Advised a private equity real estate fund regarding its acquisition of a UK-wide portfolio of approximately 30 retail, industrial and office assets for £150M and the associated financing with Wells Fargo Bank N.A.
• Advised a private equity real estate fund in relation to its disposal for circa £115M of an IoM corporate vehicle which holds a portfolio of 7 distribution/logistics assets.

Recognised by Chambers Global for Offshore: Corporate & Finance 2026

Recognised by Chambers UK for Offshore: Corporate & Finance 2021 –2026

Recognised by The Legal 500 as a Leading Individual for Isle of Man: Commercial Property 2023–2026

Recognised by The Legal 500 as a Leading Individual for Isle of Man: Banking, Finance and Capital Markets 2017–2026

Recognised by The Legal 500 for Isle of Man: Corporate and Commercial 2017–2026

Recognised by Chambers and Partners Global Guide for Corporate & Finance 2024

Top Recommended Spear’s 500 Private Client Adviser in the Isle of Man 2021–2022

Member of the Isle of Man Law Society

Commissioner for Oaths and a Notary Public in the Isle of Man