CBRE Debt and Structured Finance secures £875m loan for Olympia development

CBRE’s Debt & Structured Finance team, part of CBRE Capital Advisors, has acted as debt advisor to and assisted Deutsche Finance International and Yoo Capital in structuring and raising an £875m development facility to finance the regeneration and development of Olympia London.

The borrowers acquired the iconic site in 2017, with a vision to secure Olympia London’s status as a world-class exhibition destination whilst creating a new arts, entertainment and creative business quarter in West London. The planned scheme will blend an experiential mix of leading brands within an almost entirely pedestrianised estate with excellent public transport links.

The scheme has already attracted significant interest from occupiers and operators and will be home to 650,000 sq ft of creative office space, 80,000 sq ft of co-working space, an 180,000 sq ft exhibition hall, two hotels, food and retail outlets and a theatre. Construction of the site is due to start this year.

Gavin Neilan, Founding Partner, Deutsche Finance International LLP commented: “CBRE’s Debt & Structured Finance team was a great partner for Deutsche Finance International and Yoo Capital, and were instrumental in helping structure and secure the £875M financing commitment. CBRE’s extensive knowledge of the debt market, and ability to understand and explain to lenders the complexities of the development and operational business of Olympia London, made them an ideal partner for this project. This was key to both selecting the right lender and in ensuring a smooth and successful closing.”

Lloyd Lee, Managing Partner, Yoo Capital added: “The global capital markets and institutional investors are experiencing significant geopolitical and economic uncertainty. Pace, confidence and deliverability are more important than ever in this climate. CBRE’s leadership and drive to work alongside us at real pace resulted in a great new debt partner on a signature transaction to help drive the project forward which we are pleased is now formally underway.”

Steve Williamson, Executive Director and Chairman of Debt and Structured Finance, CBRE
Olympia London is a world-class, 130-year-old exhibition centre situated on a prime island site in West London. The proposed new scheme is one of the largest, most ambitious place-making initiatives currently underway in the capital and consequently competition to lend was extremely high but we feel we have secured a debt partner that is most aligned to our client and the project.
Steve Williamson, Executive Director and Chairman of Debt and Structured Finance, CBRE