German lender Eurohypo announced on Monday that it has provided £123 mln (EUR 140 mln) in financing for one of the largest regional investment transactions in the UK in years. The funding agreement with Luxembourg fund manager Ærium is for the purchase of 3 Hardman Street, a grade A office building in Spinningfields, Manchester.
German lender Eurohypo announced on Monday that it has provided £123 mln (EUR 140 mln) in financing for one of the largest regional investment transactions in the UK in years. The funding agreement with Luxembourg fund manager Ærium is for the purchase of 3 Hardman Street, a grade A office building in Spinningfields, Manchester.
This is the fourth acquisition in less than a year for Ærium on behalf of its Glenn Arrow UK Property Fund.
Completed in 2009, the 36,500-m2 building is 93% let to tenants including M&S, lawyer Pinsent Masons, Bank of New York Mellon, and accountant BDO Stoy Hayward.
Eurohypo is the agent and sole underwriter of the facility.
