Delancey Real Estate has secured a senior loan from L&G Asset Management of about £200 million ($269 million) to refinance Here East, London’s 1.2 million-square-foot creative and innovation campus at the former 2012 Olympics site.
The refinancing follows a competitive process led by CBRE. The level of lender interest reaffirms Here East’s position as a leading campus for creative, entrepreneurial, and unconventional thinkers to come together.
Since its founding, Here East has created over 10,300 jobs in the past decade and contributed £700 million ($940 million) to the U.K. economy in 2021 alone. The opening of the V&A East Storehouse earlier this year marked a new chapter for the site, providing unprecedented access to the V&A’s collection of more than 250,000 objects, 1,000 archives and 350,000 books.
Other tenants include Plexal, the innovation consultancy founded by Delancey, The Trampery, Sports Interactive, University of Staffordshire
