MCAP Global Finance, the UK affiliate of New York headquartered global asset manager Marathon Asset Management, has provided £140m (€166m) of debt refinancing to later-living residential specialist Auriens for its first project in Chelsea, London.
The finance has come from funds managed by MCAP Global Finance.
Located off the King’s Road in London, Auriens Chelsea is a later-living community for the over 65s, offering 56 residences alongside five-star facilities and amenities. The new, long-term financing deal, brokered for Auriens by Eastdil Secured, replaces the property’s initial development loan.
Julie Fawcett, CEO of Auriens, said: “We are very pleased to announce our new refinancing partnership, which ensures our ongoing success and ability to enhance the lives of each of our residents at Auriens Chelsea, whether they have chosen to purchase their apartment or rent with us. The new loan is also a testament to our reputation as an operator, as we look to announce further Auriens sites in the near future.”
Jon Braidley, European head of real estate at Marathon, said: “We are delighted to work with the experienced team at Auriens on their Chelsea property. Our debt facility provides the flexibility to run the business for the foreseeable future and reflects Marathon’s ability to be a reliable partner to best-in-class sponsors with operational real estate. We look forward to a successful partnership with Auriens and wish its residents and management team all the best.”
Located on Dovehouse Street in Chelsea, Auriens hasan all-day dining restaurant, library, wine cellar, hairdresser, speakeasy bar, cinema room, 24/7 concierge and a house car, as well as a gym, wellness facilities and holistic wellbeing programme.
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