CBRE Investment Management (CBRE IM) and King Street Real Estate GP, LLC, in partnership with Arax Properties have secured refinancing of 280 Bishopsgate, the class A sustainable wellness-focused office scheme in the City of London.
A competitive and flexible debt finance package was provided by a financial institution and Delancey.
The new facility will repay an existing loan on 280 Bishopsgate that is reaching maturity.
Despite the ongoing structural changes in the office sector, there was a wide range of lenders interested in refinancing the amenity-rich, sustainable office building. This highlights the continued value of prime office assets in a more challenging environment.
“Refinancing risk continues to be significant in the current market,” said Christina Forrest, EMEA head of value-added funds at CBRE IM. “We are therefore delighted that with our partners King Street Real Estate and Arax Properties, we have been able to secure this refi
