Barclays Bank has provided a funding package of £79 mln (EUR 88.6 mln) for one of the largest regional office investment transactions to take place in the British Midlands this year. The funding enabled a syndicate of investors arranged and managed by Tritax to acquire 7, 8 and 10 Brindley Place, the landmark office development in Birmingham, at a cost of £101 mln (EUR 113 mln).
Barclays Bank has provided a funding package of £79 mln (EUR 88.6 mln) for one of the largest regional office investment transactions to take place in the British Midlands this year. The funding enabled a syndicate of investors arranged and managed by Tritax to acquire 7, 8 and 10 Brindley Place, the landmark office development in Birmingham, at a cost of £101 mln (EUR 113 mln).
The properties being acquired comprise 28,000 m2 of Grade A office space let to The Royal Bank of Scotland.
Jason Constable, head of Property Finance, Midlands Region at Barclays said: 'This demonstrates our appetite and ability to execute major real estate transactions and confirms that Barclays is very much open for business. Birmingham remains attractive as a regional office investment market and we are ideally placed to finance further transactions of this scale.'
Jones Lang LaSalle's Birmingham office acted as valuers for this transaction.
