Leumi UK and Delancey Real Estate have signed a £47 mln (€55 mln) loan with Core Plus Fund CCP IV, advised by European real estate investment manager Tristan Capital Partners, for the refinance of One Stratford Place – a Grade A office asset in Stratford, East London.
The 127,000 ft2 BREEAM ‘Excellent’ property, which is part of the Westfield shopping centre, sits close to Stratford Train Station and as such provides excellent transport links across London.
Leumi UK provided a £30 mln loan to Tristan with a further £17 mln of mezzanine debt provided by Delancey Real Estate via their dedicated credit fund.
Gez O’Sullivan, relationship director at Leumi UK, said: 'Leumi UK is striving to capitalise on the debt gap in the current market, providing loans to top tier sponsors against well-performing, quality real estate assets.'
Martin Farinola, head of Real Estate Debt Strategies at Delancey, said: 'This transaction furthers our commitment to financing high quality real estate projects and sponsors like Tristan Capital Partners. As Delancey continues to innovate and invest in the future, this refinancing is another step towards sustained success in today’s highly competitive commercial real estate market.'
