UK property group Helical and Places for London (PfL) have secured a £220 million development loan from PIMCO Prime Real Estate.
The partnership has received the financing facility to fund the acquisition and delivery of the 235,000-square-foot Paddington Over Station Development (OSD) office development in west London.
Helical and Transport for London’s property arm PfL have secured the loan ahead of the £55 million site acquisition that will see Helical contributing £28.1 million.
Paddington OSD is the second of three initial sites to be acquired by the joint venture, following Helical’s appointment as the commercial development partner for PfL.
The main construction of the Paddington OSD project is scheduled to begin in the second quarter of the year, with practical completion expected in the third quarter of 2028.
Source: IPE Real Assets on 12 February 2026.
https://realassets.ipe.com/news/helical-and-places-for-london-secure-220m-pimco-prime-real-estate-loan/10135131.article