Redevco, one of Europe’s largest privately owned real estate managers, has successfully closed its first loan investment from its recently launched Real Estate Debt platform, a landmark moment in the company’s expansion into real estate lending.
The £47.5m (€56.8m) facility will support the acquisition and refurbishment of a c.56,000 sq. ft office-led scheme at 10 Salisbury Square in the City of London. The property is being re-developed by Original Works, a new platform sponsored by Invesco Real Estate, the £65.5bn global real estate investment business of Invesco Ltd. (NYSE: IVZ) and Simten. The loan was arranged by Brotherton Real Estate. The project undertakes a comprehensive retrofit and extension of the existing property to deliver Grade A, healthy, progressive office space with the highest sustainability ambitions including EPC A and BREEAM Outstanding. The investment aligns with Redevco’s strategy of supporting the development of transitional assets through its new Real Estate Debt platform. The facility is structured as a Green Loan in accordance with the Loan Market Association (LMA) Green Loan Principles.
You can now read the full press release at the link below
