Partners Group has appointed Eastdil Secured and JLL as joint agents on the sale of EightyFen, a Grade A office complex at 80 Fenchurch Street in the City of London. 

The asset is being brought to market following the recent completion of a senior loan refinancing with a pension insurance lender and is expected to attract offers of around £300m (€346m).

Completed in September 2020 in collaboration with YardNine, EightyFen offers more than 250,000sqft of modern workspace and retail accommodation across 14 storeys. It is 100% let to investment grade occupiers, including Aviva, Royal London, Hampshire Trust Bank and Arcadis.

Also this week, Legal & General sold its £500m equity stake in Inspired Villages, a later living partnership formed in 2022 with NatWest Pension Trustee Limited, while Amro Partners and Aviva Investors announced the launch of a dedicated platform focused on investment into purpose-built student accommodation across Germany.

A number of big-ticket loans have also been issued over the past few days, including one of Central Europe’s largest secured facility in recent years. In London, King Street Capital Management joined forces with alternative lender Cohort Capital and Apollo to provide a £348m senior loan to support the refinancing of The Park Tower Hotel, while on the continent, Redevco granted its second loan, providing a €67m facility to support two German logistics developments.

Richard Craddock, head of real estate debt at Redevco, told IPE Real Assets that Redevco’s real estate debt strategy is “centred on financing transitional projects that deliver long-term value by aligning with occupier demands and regulatory requirements for the next generation”.

“We target projects with strong sponsors in core European markets, prioritising best-in-class specifications and high energy efficiency,” Craddock said.

“This latest loan exemplifies our commitment to supporting high-conviction sectors like logistics in Germany, where fundamentals remain strong. We believe that by backing retrofit and development schemes with a strong sustainability focus, we can generate attractive risk-adjusted returns while supporting the energy transition across the built environment.”

Assets on the market       
Asset Asset type Location Vendor Size Price (mln) Broker Key facts
EightyFen at 80 Fenchurch St office London Partners Group 250,000sqft £300 (€346) Eastdil Secured and JLL EightyFen is 100% let to investment grade occupiers, including Aviva, Royal London, Hampshire Trust Bank, and Arcadis.
The Inventory Estate mixed London LaSalle and Trilogy 482,807sqft £247.5 (€285) Knight Frank and Kauffmans The two education-led buildings are home to over 19,000 students.
Cameron House hotel Loch Lomond, UK KSL Capital Partners 132 rooms £100 NA The asset was bought in 2015.
The Davidson Building office London Barings 42,800sqft £70 (€81) RX London and Michael Elliott Barings, then Cornerstone, bought the building for £66.9 million from Derwent London in 2015.
Burnell Place living Dublin ESR Europe and Lugus Capital 191 units €72 Knight Frank Completed in 2023, Burnell Place comes for sale fully let to Tuath Housing Association on a 25-year lease.
Alcantara office Galway, Ireland Edward Capital 70,977sqft €33.5 C&W The office building is fully let and generating €2.4m in annual rental income.
Rockwell Farm land Tipperary, Ireland The Spiritan Order 805 acres €21 Sherry FitzGerald The property is being offered for sale in three lots.
land bank land Dublin NA 116 acres €18.5 CBRE and JPM Doyle The lands are currently zoned General Employment, which provides for logistics, warehousing and light industrial uses.

 

Recently completed loans    
Lender(s) Borrower(s) Asset(s) Loan Size (mln) Key facts
NatWest, Santander, Bank of China and Lloyds GPE Unsecured £525 (€604) The facility has a headline margin of 105 basis points over SONIA, with an initial five-year term, which may be extended to a maximum of seven years at GPE’s request.
King Street, Cohort Capital and Apollo NA Knightsbridge’s Park Tower Hotel £348 (€401) The new facility replaces existing debt from Cale Street Partners, following breaches of non-financial covenants by the hotel’s owners that prompted Cale Street to request repayment and for the group to seek alternative lenders.
Tatra banka, Komercni Banka Slovakia, Slovenska Sporitelna, and Vseobecna Uverova Banka JTRE the Eurovea 1 and Eurovea 2 projects in Bratislava €380 The loan is one of the largest in Central Europe.
Maslow Capital Definition Capital mixed-use regeneration development in South East London £122 (€140.6) The development loan funds the construction of a 487-unit co-living scheme and a 110-room hotel.
NIB Intea Swedish justice centre €91 The 14-year loan co-finances the modern justice centre, which is intended to work as a model for replication in Sweden.
ASK Partners Development Capital London luxury family houses in London £78 (€90) The senior loan refinances the original acquisition and planning facility provided by ASK in 2023 and will fund the delivery of six luxury family houses.
Redevco Invesco and Propel two Class A Mid-Box Logistics schemes located in Frankfurt and Karlsruhe €67 The loan will fund the acquisition and development of the two properties.
Värde KFIM Amazon fulfillment centre in Dunfermline, Scotland £35 (€40) The logistics centre was purpose-built for Amazon in 2011 and comprises one million sqft.
Paragon Union Property Development 250 St Vincent Street, Glasgow £22.6 (€26) The loan will fund the transformation of an office building into purpose built student accommodation.

 

New mandates/JVs and funds on the market   
Firm Fund/mandate/JV Strategy Details
Fidelity International Fidelity Real Estate Logistics Impact Climate Solutions Fund Acquiring energy efficient logistics assets across Western Europe With leverage the fund will have a total investment capacity of €710m. It is anchored by an €80m investment from Rest Super.
Amro and Aviva German student housing platform Acquiring PBSA assets across Germany The strategy is looking to develop €500m worth of student housing facilities.

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