M&G, QuadReal-backed Precede and Oaktree’s Silbury Finance wrote bespoke debt packages for borrowers in the UK.
Silbury passed £500 mln of lending in the UK Living sector in under two years, with a £64.3 mln loan for an Elysian Residences luxury retirement scheme. The company said it had seen ‘unprecedented and increasing enquiry levels from borrowers for bespoke capital solutions.’
M&G Investments refinanced a securitised loan originally written by Goldman Sachs for borrower Vivion. The new £200 mln senior facility is secured on 20 UK hotels and has a margin of 3.95%.
A large Manchester multifamily development called First Street, which will have 1,790 units, secured £227 mln of debt from Precede Capital and Nomura. The four-year, whole-loan facility to Downing Living is the first originated and arranged by Precede since it announced its partnership with QuadReal and concurrent rebrand from Précis Capital Partners earlier this month. Downing Living plans for the asset to be net zero by 2038.
Among assets put up for sale this week are two large offices, in Barcelona and Manchester.
We also track four managers raising new capital and the latest deals closed.
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