Eurohypo AG, Europe's leading commercial real estate lender, has provided a £90-million (approx. 107.6 million) secured facility to Derwent London plc.
The seven-year facility replaces existing facilities of Derwent London and is initially secured against two assets. The new facility builds upon an existing relationship and exposure but represents the first bilateral transaction between the parties.
Michael Acratopulo, Head of Origination at Eurohypo, commented: "We were very pleased to be able to consolidate our relationship with Derwent London through this transaction. We worked hard, over several months, to craft a facility which provided Derwent operational flexibility that is consistent with their business model. We very much hope that over time we can expand our relationship with Derwent London further."