ING, Berlin Hyp refinance London's Sea Containers House

ING Real Estate Finance and Berlin-Hannoverische Hypothekenbank said on Wednesday they have provided a £120 mln (EUR 143 mln) senior secured term facility to investment company Archlane.

The loan will be used to refinance Sea Containers House, a 38,000 m² office building on the South Bank of the River Thames.

The property will be redeveloped into a mixed-use building providing retail and restaurant space, 27,000 m² of new and refurbished office space and a 360-bedroom hotel under a 25-year management agreement with Morgans Hotel Group. The hotel is scheduled to open in early 2014.

ING is also acting as facility agent and account bank.

Archlane was advised by The Deerbrook Group, a private London-based real estate asset management company. Stephenson Harwood acted as legal adviser to the lenders and Rosenblatt acted for the borrower.