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Sign in Sign up for a FREE subscriptionLegal & General provides €478.4m financing for London mixed-use scheme
LGIM Real Assets, acting on behalf of its clients including Legal & General Retirement Institutional (LGRI), has provided £478.4 million ($611 million) in long-term financing to support Almacantar on the debt refinancing of One and Two Southbank place in London.
“This transaction, our largest U.K. real estate debt deal, provides diversity for our portfolio of investments backing our pension commitments. These buildings also both enhance the local area and enable the provision of a modern working environment,” said Hayley Rees, head of direct investments, Legal & General Retirement Institutional.
Delivered by Canary Wharf and Qatari Diar, the 140,000-square-meter (1.5 million-square-foot) mixed-use development forms an integral part of the wider regeneration of the Southbank Place development.
Completed in August 2018, One Southbank Place is currently let to Shell International on a 20-year lease and will be used as the company’s new U.K
