Aerium Finance has refinanced a 115,000sqft London building with a £106.2m (€123m) loan from Macquarie Capital Principal Finance.

Macquarie said it has arranged and executed the senior loan to refinance Herbal House, a ten-floor freehold multi-let office and residential building in Farringdon.

Alexi Antolovich, global co-head of real estate at Macquarie Capital Principal Finance said: “The landscape for commercial real estate has changed dramatically over the past year. We’re seeing increased demand from sponsors seeking re-capitalisation of high-quality assets in their portfolios and Macquarie is able to support by offering certainty and fast execution.

“We are pleased to support Aerium with a re-capitalisation of Herbal House after an extremely successful execution of their long-term business plan to refurbish and re-let the property.

“We see Herbal House as an excellent example of the modernisation of a former industrial building to deliver an attractive and functional office space perfect to foster collaboration and creativity, which we see as increasingly important to occupiers coming out of lock-down.”

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