Barings Real Estate Advisers, part of Barings LLC, one of the world’s largest diversified real estate investment managers, announces that it has arranged a c. €34.57m (£29.65m) financing facility for investment manager Corestate, to support the c. €56m (£48m) acquisition of the Royal Liver Building, a Grade A office building in Liverpool, UK on behalf of an institutional investor.
The Royal Liver Building is an iconic 328,800 ft² Grade A refurbished office building which is integral to Liverpool’s UNESCO designated World Heritage Waterfront and this transaction marks the first time that the Grade I listed property has been brought to the market since its grand opening in 1911, as the headquarters of the Royal Liver Assurance Group. The asset is well-positioned to benefit from the sponsor’s expertise in prime assets and strategy to preserve and strengthen its historic character through a substantial investment programme.
Chris Bates, Head of Real Estate Core Mortgage Europe, said: “This iconic deal is a strong endorsement of the flexibility of our European debt platform, as we continue to work with a wide range of investor and borrower requirements across both senior and structured debt in the European markets.”
Barings Real Estate Advisers is part of Barings LLC, one of the world’s largest diversified real estate investment managers. The group is an active investor in private and public, equity and debt markets, and provides core, value-added, and opportunistic investment and advisory services to institutional and other qualified investors around the globe.