Investec Structured Property Finance has agreed to provide Meadow Partners, the international real estate investor and asset manager, with a £14.75m senior loan.
The facility will finance the site acquisition and support Meadow through the planning process to convert six mixed-use office and retail buildings. It will be situated in London’s growing Docklands business district, into a high-quality residential scheme.
This latest facility follows a £32.8m loan by Investec to Meadow in 2016 to help fund the acquisition of land and the development of an 84,452 sq ft data centre, in the same Docklands area.
The bespoke loan structure will allow Meadow to refinance incumbent debt and to progress with its business plan of achieving planning for a 319 unit residential scheme.
Mark Bladon, at Investec, said: “This further commitment with Meadow demonstrates Investec’s ability to structure seemingly complex loan facilities and we were pleased to have been able to complete the deal within a tight time frame.
“Meadow is an internationally regarded business with a track record of success in the London market and our experience supporting major funds and private equity firms is once again highlighted with this deal.”
Located near Crossharbour DLR station, the site is a short walk from Canary Wharf and served by excellent transport links into the City and a wide range of local amenities.