Macquarie Lending expands its activities within UK commercial real estate market
London, 06 Jun 2014
Macquarie Lending has made its first UK commercial real estate acquisition with the purchase of an office building in central London.
Macquarie Lending has purchased Tavis House, which comprises 57,400 square foot over 10 floors and is situated on the corner of Tavistock Square in Bloomsbury, close to the British Museum and University College London. The purchase is in-line with Macquarie Lending’s strategy to deliver capital returns and stable income streams over the long-term.
The entire building is currently let to a public sector tenant on a long-term contract, and sub-let to the charity Age UK. Macquarie Lending will actively manage the property, using its existing inhouse expertise to enhance the value of the asset.
Neil Hasson, Head of Macquarie Real Estate Lending, Europe said: “Macquarie has long provided financing to borrowers and sponsors involved in real estate transactions. Our purchase of Tavis House is the first opportunistic acquisition we have made and we would be interested in making further acquisitions across Europe as special situations arise."
For further information, please contact:
Macquarie Corporate Communications
Tel: +44 (0) 203 037 5602
Macquarie Group (Macquarie) is a leading provider of banking, financing, advisory, investment and fund management services. Founded in 1969, Macquarie employs more than 13,900 people in 28 countries. At 30 September 2014, Macquarie had assets under management of £237 billion.
Part of the Group's Corporate and Asset Finance business, Macquarie Lending has more than 80 dedicated investing and lending professionals globally. With offices in London, New York, Chicago, Sydney and Singapore, Macquarie Lending is committed to providing innovative and tailored solutions to clients around the world, across industries including energy and infrastructure, real estate, retail and the telecoms sector.