Helaba Landesbank Hessen-Thüringen and Berlin Hyp, together with Oxford Properties Group, have successfully co-arranged a medium-term debt financing facility for Watermark Place in the City of London, amounting to an initial £140 million (approx. 168 million).
Watermark Place was completed in 2009 and comprises approx. 50,000 m² of high quality office space situated on the north bank of the Thames. The building is entirely let to Nomura and represents Nomura's European headquarters.
The transaction was closed in December 2010. As a remarkable single financing facility in the last year's London market this transaction highlights the confidence and long-term commitment of the Arrangers to the UK property market. Helaba and Berlin Hyp see it as evidence for continuing liquidity in property financing, especially from German banks.
Both banks acted as Underwriters via their London branches with Helaba as Agent. In addition to that, Helaba and Landesbank Berlin AG also provided a tailor-made hedging structure.