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refinancing
The Venetian icon, and one of the world’s leading hotels, is in line for a thorough refurbishment through a €330m refinancing from Starwood Capital and King Street Capital.
The £106.2 million loan refinances the ten-floor multi-let office, residential asset in Farringdon, which was built in 1928 as the printing headquarters for the Daily Mirror.
Martin McGann, finance director of the UK logistics REIT, says the company’s latest financing diversifies its funding sources and provides long-dated capital.
A new facility agreed by the two parties includes up to a 10bps margin discount should the borrower hit sustainability targets.
Financial intermediaries argue the current crisis has increased the need for their services
An expected increase in acquisitions gives lenders hope that financing mandates will follow
After its €200m green loan to Irish property company IPUT, Wells Fargo’s head of UK CRE lending says sustainability has become a core concern for sponsors.
The €205m refinancing facility for Northwood Investors was described by DWS’s Oswatitsch as having a ‘defensive nature’.
The long-term refinancing facility for the Connaught and the Berkeley, two of London’s most luxurious hotels, was arranged by US bank Citi.
The Qatar Investment Authority has signed a debt facility with a syndicate of six banks to refinance its global headquarters in the Canary Wharf financial district.
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