Eurohypo backs SW1 refinancing

Eurohypo has led a £320m refinancing of Saudi Arabian investor The Olayan Group’s  Knightsbridge Estate in SW1. Last June Olayan teamed up with Chelsfield Partners to pay Quinlan Private £600m in cash for the central London site. Olayan beat Korea’s National Pension Service (represented  by Rockspring) and the Qatari Investment Authority to the deal, amid rampant demand for prime central London assets from overseas buyers.

Olayan only recently sought five-year leverage for the deal from Eurohypo’s London office. Eurohypo also took part in the £98m refinancing of three City offices owned by Commerz Real’s open-ended hausInvest fund: Athene Place, Paternoster Square and Paternoster House. With joint arrangers Crédit Agricole and HSBC, it is talking to Bayern LB, among others, about syndicating the debt they will provide for Westfield’s Stratford City shopping centre. Last month Commerz Real also refinanced hausInvest’s biggest investment, its stake in the White City Westfield centre, with £250m of debt from Helaba and Deutsche Hypo. Helaba was the lead arranger on the deal.

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