Deutsche Asset Management, the real estate arm of Deutsche Bank, has loaned Mayfair-based developer Clivedale £55 mln (€60 mln) to build a 5-star boutique hotel, apartments and retail at 22 Hanover Square.
The financing allows for the implementation of the planning permission which has been granted for the mixed-use, super-prime development in London's Mayfair.
'We are pleased to continue our relationship with Clivedale into the next stage of the redevelopment of 22 Hanover Square,' commented Andrea Vanni, head of European real estate debt investments for Deutsche AM.
Deutsche AM’s European real estate debt business holds €1.25 bn in assets under management as of July 2017.
