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Her Majesty Queen Elizabeth II 1926 - 2022

Portrait of Charlotte D’Avola
Areas of expertise: Housing


Charlotte leads the housing securitisation and portfolio team, and specialises in large-scale security work for registered providers, stock rationalisation projects, and other portfolio property matters.

The team has supported registered providers, investors, and others involved in the housing sector on a range of portfolio property transactions, including new charging/securitisation for bonds, private placements, and bank facilities, as well as refinancing and related treasury matters (such as disposals, title rectifications and variations). In addition, Charlotte has led numerous stock rationalisation/restructuring projects, portfolio acquisitions, and disposals, and routinely supports the corporate services team on merger due diligence. She also deals with grant funding and strategic partnership agreements with the HCA, GLA, and local authorities, forward funding deals, development security, and mortgages and structured property finance.

Charlotte is a member of the Chartered Institute of Housing and Women in Social Housing. Chambers UK describes her as ‘a very experienced solicitor who gives good advice – you can trust her judgment.’

Recent work highlights

  • Acting for a housing association on its first £100 million North American private placement.
  • Supporting a G15 association in connection with its £250 million sustainability bond and EMTN programme.
  • Advising a leading investor on the acquisition, by way of lease and lease-back, of a substantial affordable housing portfolio.
  • Leading a team assisting a client with a group-wide review of its property holdings to ensure uncharged properties are ready for future charging. This included a range of rectification work including variations to section 106 agreements, headleases, and the rectification of ownership/title issues.
  • Advising a G15 association on the intra-group transfer of a portfolio of property assets as part of a group re-organisation.
  • Dealing with the security aspects of a £110 million restated loan agreement, including securing letters of reliance from previous advisors to reduce the due diligence requirements.

Penningtons Manches Cooper LLP

Penningtons Manches Cooper LLP is a limited liability partnership registered in England and Wales with registered number OC311575 and is authorised and regulated by the Solicitors Regulation Authority under number 419867.

Penningtons Manches Cooper LLP