Hypo Real Estate Bank International and Deutsche Bank AG, London are pleased to announce that acting as joint mandate arrangers and underwriters, they have provided £370 million of term financing towards a re-financing for Canary Wharf Group plc of 10 & 20 Cabot Square, Canary Wharf London E14. Hypo Real Estate Bank International has provided £185m of the term financing through a facility that closed on 25th May 2005.
Canary Wharf Group plc, the owner/manager of the Canary Wharf Estate is an integrated property development and investment group focused exclusively on Grade A office space with ancillary high quality retail accommodation at the Canary Wharf Estate.
No 10 & 20 Cabot Square provide approximately 1.15 million sq ft (107,000 m²) of high quality office accommodation let to Barclays Bank, Morgan Stanley and the WPP Group. The buildings also include 40,000 square feet (3,700 m²) of retail accommodation at ground floor.
Commenting, Harin Thaker, CEO of the bank´s European business
platform, said: "We are delighted to have been involved with this
transaction. It clearly demonstrates the way in which we are able to deliver efficiently and successfully an attractive structured finance solution for a key UK client on a core asset holding in a timely and expeditious manner."
Source: Hypo Real Estate Bank
