TIAA Henderson Real Estate has recently completed a series of loans through its newly established commercial real estate debt platform. TH Real Estate offers senior, junior and whole loans secured on a wide range of property assets in London and in the UK regions, with terms from 4 to 20 years and with leverage up to 75% loan-to-value.
TH Real Estate closed two loan facilities in December. The first transaction, which has been fully retained, was an approx. €116 mln senior, 7-year, fixed rate, interest only loan at 63% LTV, secured on a portfolio of three prime office and retail properties located in central London. The second transaction was a 5-year, 74% LTV, partially fixed/floating rate facility to refinance a modern student accommodation and retail property in West London. TH Real Estate will retain the fixed rate mezzanine loan and intends to syndicate the 55% LTV floating rate, senior portion of the loan.
Christian Janssen, Head of Real Estate Debt at TH Real Estate said: “We are very pleased to have established the UK debt platform and closed this series of investments, leveraging TH Real Estate’s comprehensive real estate research, equity and debt capabilities.”
Source: TIAA Henderson Real Estate