BNP Paribas has provided a £90.4m senior loan to Tishman Speyer for its purchase of 100 New Oxford Street in London’s West End.
The deal is the second recent one that BNP has completed with Tishman. In July last year it financed the £210m purchase of The Point in Paddington Basin with a £105m loan.
The 103,500 sq ft New Oxford Street office and retail property is in the process of being refurbished and re-let. Talent agent William Morris Endeavor and Weve, a mobile marketing company, are tenants.
Tishman bought the building for its new European Value-Added Fund, TSEV VII last month in an off-marked deal from a joint venture between Hermes and Canada Pension Plan Investment Board (CPPIB).
The building is situated close to Centre Point, the iconic London “white elephant” which is undergoing redevelopment, and Tottenham Court Road station, where Crossrail is expected to become operational in 2018.