Deutsche Asset Management announced it has closed a €59.8m (£55m) financing to Clivedale secured against 22 Hanover Square in the exclusive Mayfair area of London.
The financing allows for the implementation of the planning permission to build a 5-star boutique hotel, apartments and ground floor retail.
Andrea Vanni, Head of European Real Estate Debt Investments for Deutsche AM, said: “We are pleased to continue our relationship with Clivedale into the next stage of the redevelopment of 22 Hanover Square.”
Deutsche AM’s European real estate debt business holds €1.25bn in assets under management as of July 2017.
