Allianz Real Estate has provided £120 mln (€141 mln) in debt financing to The Office Group (TOG), majority owned by real estate funds managed by the Blackstone Group, for the acquisition and refurbishment of Chancery House in London.
The deal, completed on behalf of several Allianz group insurers, is the fifth debt transaction in London for Allianz Real Estate and the first since it opened its London office in mid-2019. Chancery House is a 150,000 sq ft (13,940 m2) prime asset in Midtown on an island site minutes from Chancery Lane underground tube station.
Real estate investor and manager Cromwell Property Group (Cromwell) has confirmed that it assisted Cromwell EREIT Management Pte Ltd, the Manager of Cromwell European REIT (CEREIT) to raise and conduct a EUR625 million unsecured debt refinance, on behalf of Cromwell European REIT.
This sees CEREIT’s weighted average term of debt extended to 3.6 years while maintaining its attractive cost of funding at approximately 1.50 per cent.
Real estate investment manager LaSalle Investment Management is aiming to raise €1 billion of capital for a fourth mezzanine lending vehicle in its European property debt fund programme.
European credit asset manager Chenevari Investment Managers is raising capital for a new debt fund predominant;y focused on the private rented sector (PRS) and student housing across the UK and Spanish Markets.
Chenevari is aiming to raise £350m for the vehicle by final close in September 2020, Andrew Haines, the firms partner in charge of real estate strategies, said.