London, 19 May 2017
Macquarie Lending has financed the acquisition of three adjacent Grade B, long leasehold office buildings in Westminster, London comprising: 40/48 Broadway (38,713 sq ft), 1/11 Carteret Street (21,263 sq ft) and 13/15 Carteret Street (11,923 sq ft) (the “properties”) by Carter Victoria Limited (“Carter Victoria”).
Macquarie Lending has committed over £30 million of senior secured debt to support the acquisition of the properties. The loan has a first mortgage security over the properties.
Adam Joseph, Executive Director of Macquarie Lending Europe, said: “The Westminster and Victoria submarkets have undergone significant regeneration over the last ten years. We see this as an asset with strong potential and look forward to working with the team at Carter Victoria.”
Edward Moore, Senior Asset Manager of Carter Victoria, said: “Carter Victoria are delighted to have completed the purchase of 40 Broadway & 1-11 / 13-15 Carteret Street and are looking forward to working with Macquarie both on this project and future opportunities to develop the successful relationship that has been established.”
Macquarie Lending has substantial experience in structuring and underwriting bespoke financing solutions to clients, as well as deep expertise within the real estate market, with circa £1 billion new commitments / investments made in the last twelve months alone.
Hogan Lovells acted as legal advisors to Macquarie. Savills provided real estate valuation advice and McBains Cooper provided technical due diligence advice.