CBRE structures £55.6m loan facility for 15 Fetter Lane
CBRE’s Debt & Structured Finance team, part of CBRE Capital Advisors, has structured a £55.6 million loan facility for 15 Fetter Lane, an 85,000 sq ft office building in the heart of midtown. CBRE sold the building on behalf of the British Steel Pension Fund to an International investor in April for £92.6m.
CBRE’s Debt and Structured Finance team has secured a four-year debt facility from Nuveen Real Estate.
The office is well located adjacent to the New Street Square Campus and a short walk from Farringdon Crossrail. It underwent extensive refurbishments in 2017 and is multi-let to six tenants.
On behalf of our client we were very pleased to once again work with the team at Nuveen. Given the high-quality attributes of 15 Fetter Lane, and those of our incoming client, competition for the financing was strong but with Nuveen we able to provide a compelling package and work with us to close in line with the asset purchase timeline.