Hypo RE Bank Int. provides 185 million for Canary Wharf Group refinancing (UK)

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

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