Mon, 16/04/2018 - 09:54
Barings Real Estate has provided a GBP53.9 million development loan facility, on behalf of an institutional investor, to Meadow Partners for the development of Hathaway House, a mixed-use scheme comprising residential and commercial space, in Maida Vale, West London.
The facility will enable Meadow Partners, an international real estate investor and asset manager, to construct the circa 100,000 sq ft mixed office and residential development which will comprise 74 for-sale apartments, including 19 affordable units and c20,000 sq ft office space, of which around approximately 70 per cent has been pre-let to an NHS Foundation Trust on a 20 year lease.
Established in 2009, Meadow Partners’ management team has over 50 years of collective real estate investment experience and has been responsible for the acquisition and ongoing asset management of USD26 billion of real estate assets located in the United States, Europe and Asia, as well as over 250 separate transactions.
With this financing, Barings’ real estate debt team has underwritten loans across the capital stack including senior debt, whole loans and development financing across a range of traditional and alternative real estate sectors including student housing and the private rented residential sector.
Chris Bates, Head of Core Mortgage Europe at Barings Real Estate, says: “Through this transaction, Barings is enabling the transformation of a former neglected site into a high quality mixed-use development which will provide additional housing supply for London. This marks our 14th financing in London as we continue to grow our lending platform across a diverse range of markets and demonstrates our ability across all property types.”
Barings Alternative Investments (BAI), a 400-plus associate team located across 11 countries that manages USD52.6 billion in client capital, seeks differentiated sources of returns by incorporating decades of investment experience in alternative assets. BAI offers investors access to a diverse range of opportunities across private equity, real assets, asset-based investments and the four quadrants of real estate. Barings serves as a trusted partner to clients, leveraging global presence and robust origination capabilities to identify the most attractive risk-adjusted return opportunities. As a leading global real estate investor and asset manager, the Barings Real Estate team offers a broad range of investment opportunities across the public and private debt and equity markets, investing across property sectors with a focus on global relative value and trend-backed preferred strategies.
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