Hilco lends £30.6m against London mixed-use portfolio

By

Hilco Real Estate Finance.

Hilco Real Estate Finance (“HREF”), a Hilco Global Company, has completed a £30.6 million short term loan against a six-asset portfolio of high-end retail and residential assets in London.

The 24-month facility of £30.6m has been issued to private investment group, Tribeca Holdings, and will be used to refinance an existing loan.

Tribeca Holdings is a highly experienced asset manager with a 25-year track record of investing and developing trophy assets in the UK, Ireland, and the US.

The six assets are: a mixed-use retail and residential building on Bond Street; three properties in Westbourne Grove incorporating retail, residential and hospitality uses; a residential asset on Lancaster Gate; and a landmark pub in Spitalfields.

The portfolio is currently let to a variety of high-profile occupiers including Orlebar Brown, Bonpoint and F&B operators including Wild Tavern and The London Beer Factory.

Eamonn O Rourke, Head of Origination (Ireland) at HREF, said:

“We’re proud to have been able to quickly execute a big-ticket loan against a diverse portfolio of assets in the current economic climate.

The combination of prime London assets owned by an experienced Irish UHNW investor made this a compelling deal for us and is testament to the cross-border collaboration between HREF’s Dublin and London offices – originated on one side of the Irish Sea and executed on the other.”