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Development finance

A loan from six banks funded the €880m purchase of offices for a retrofit project without a lease.
The London-based manager was selected to provide the financing because it was able to provide a whole loan.
50 Fenchurch Street
The borrower acquired 50 Fenchurch Street in 2022 and plans to develop a circa £1bn office tower.
Two domestic managers, Silverton and Pöttinger, have paired up to offer advice in cases where schemes have stalled.
The manager has provided a £143m debt facility for a third later living development by Goldman Sachs-backed Riverstone.
The UK development lender is aiming to incentivise borrowers to bring forward schemes with societal benefits.
Fairfax Manchester
The facility will fund the development of a luxury rental apartment scheme in Manchester.
The firm provided the construction loan through its UK Secured Lending Fund III.
Mark Branson said lenders will be under pressure as the credit quality of real estate loans continues to decline.
The financing for the 585-bed Vita Student project in Madrid is the lender’s first in Spain.
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