Burges Salmon’s Banking and Finance team has acted for Tristan Capital Partners on a deal to support the refinancing of a BREEAM excellent-rated office space in London
The law firm advised on a £47 million loan to support the refinancing of a 127,000 sq. ft. property which forms part of the Westfield shopping centre in Stratford, East London. Finance was arranged by Leumi UK who provided a £30 million loan to Core Plus Fund CCP IV – advised by Tristan Capital Partners – with a further £17 million of mezzanine debt provided by Delancey Real Estate via its dedicated credit fund.
It has been a pleasure to work with Tristan Capital Partners on this significant refinancing which highlights the attractiveness in the market for high-quality, sustainable, London office space.
The Burges Salmon team advising Tristan Capital Partners was led by partner Katie Allen and senior associate Christopher Herford, from the firm’s Banking and Finance team. Allen comments: “It has been a pleasure to work with Tristan Capital Partners on this significant refinancing which highlights the attractiveness in the market for high-quality, sustainable, London office space. Our Banking and Finance capabilities, coupled with our track record advising clients in the Built Environment sector, meant we were well placed to guide Tristan Capital Partners through this transaction.”
Sam Harmon, director at Tristan Capital Partners, says: “We needed to choose a lender with a long-term outlook and expert knowledge of the sector – a brief that Leumi UK and Delancey matched. Their teams’ expertise, combined with their collaborative approach, has been instrumental in this partnership. We remain confident in the performance of high-class office assets in Stratford, an area which remains popular among businesses given its excellent connections and competitive rents. We also want to thank the Burges Salmon team for their excellent and thorough advice.”
Burges Salmon’s Banking and Finance team handles complex financing transactions for clients on both a UK and cross-jurisdictional basis, acting for some of the world’s largest banks, building societies and over 50 financial institutions, alongside numerous PLCs and large corporate clients globally. The team is particularly active within the firm’s Built Environment sector group, providing strategic and practical legal advice on financing, and investing in, all forms of UK property.
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