Global law firm Ashurst has advised London-based property investment and development firm, Almacantar, as borrower on a £385m refinancing of loans secured on One and Two Southbank Place, London.
The facilities were arranged by L&G on behalf of both external clients and L&G's Institutional Retirement business. The transaction underlines the robust demand for, and confidence in, high-quality prime office space in the capital.
One and Two Southbank Place, both located adjacent to Waterloo Station, comprise 545,000+ sq ft of prime office space. One Southbank Place is let to Shell, while Two Southbank Place is let to WeWork, each with a mix of accompanying retail space.
The Ashurst team was led by real estate finance partner Stuart Blacklock and global head of real estate, Sarah Sivyour.
