Investec Structured Property Finance has backed a South African investor with a £107m (€121.2m) loan to help buy a London office asset.
Investec said it has provided the investor, represented by Pembrey Asset Management, with the senior loan to support its acquisition of One Bartholomew Lane.
The asset is being sold by Hines UK, as asset manager acting on behalf of a sovereign wealth fund investor.
The office building, located opposite the Bank of England, comprises 79,838sqft over 13 floors and is fully let to 11 tenants.
Adam Jaffe, at Investec Structured Property Finance, said: “This purchase emphasises the continued attraction of investing in London, where wealth preservation is the underlying strategy.
“Despite economic and political uncertainty, we believe that demand for well-located London real estate will remain resilient in 2019.”
Ross Blair, a senior managing director and head of Hines UK, said: “Since acquiring the building in 2011 we have delivered attractive returns for our investor client during the period of ownership.
“It is a fantastic building in a supreme location, which was unsurprisingly the subject of intense appetite from investors.”
