UK private equity group Vico Capital has secured a £107 mln (EUR 127 mln) refinancing of 17 Columbus Courtyard in Canary Wharf, London. The property is on a long full repairing and insuring lease to Credit Suisse International and forms part of its European headquarters.
UK private equity group Vico Capital has secured a £107 mln (EUR 127 mln) refinancing of 17 Columbus Courtyard in Canary Wharf, London. The property is on a long full repairing and insuring lease to Credit Suisse International and forms part of its European headquarters.
The transaction was arranged by Duet Private Equity, through its real estate mezzanine financing platform, and was funded in partnership with MetLife and another partner believed to be Partners Group from Switzerland. The financing was provided to refinance an existing loan.
Philip Moore, Investment Manager at Duet, believes this complex type of structure 'will serve as a template to refinance high-leverage loans against high-quality assets going forward'.
'Vico Capital welcomes its partnership with MetLife and Duet Private Equity in completing a sophisticated and innovative transaction during a challenging period for the UK commercial real estate market,' said Brian O’Donnell, chairman of Vico Capital.
