Offices

An increasing emphasis on a return to the office by corporate companies may be supporting the positivity.

James Moss, incoming CFO of borrower Helical, says the city lacks quality workspace.

A syndicate of lenders including banks and manager Generali Real Estate provided the loan.

Cheyne’s Arron Taggart discusses using back leverage and factoring sustainability into the loan structure.

The Toronto-based manager wanted to find a buyer for the London office tower by 20 January, prior to the expiration of the underlying commercial mortgage-backed securities loan.

Special servicer SitusAMC has agreed to a one-year extension on the loan backed by The Squaire, which was set to mature this month.

The facility replaces a €723.9m loan secured by the Finance Tower, owned by South Korea’s JR Global REIT.

Opportunities are emerging from troubled assets or owners, but they are not what the industry had anticipated.

The office complex has recently been refinanced for more than €600m by a syndicate of French banks.

The £900m equity backstop committed by shareholder Brookfield is designed to gain bondholders’ approval for raising fresh debt.