Sydney—Dentons has advised Bridge Housing on a $40 million 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, a community housing program (CHP), to refinance its existing projects and fund new ones. It is estimated that NHFIC’s finance will save the CHP $7 million in interest payments over the life of the loan.

The NHFIC loan will be split into two allocations with the first being used to refinance Bridge Housing’s existing development program. The second allocation will be used to develop 16 townhouses in Dulwich Hill as well as the acquisition and refurbishment of eight units in Punchbowl, at a total development cost of approximately $12.6 million.

Dentons partner Anthony 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. 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,” Mr Walsh said.

“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.”

Partner Anthony Walsh led the deal team, and was assisted by Solicitor Mason Zhang and Graduate Faraz Rashid.

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