Allianz Real Estate has extended its footprint in the UK real estate sector by providing a £212m senior loan to London & Regional for the refinancing of 55 Baker Street, a mixed-use building in London’s West End.
The deal is the company’s second transaction in UK real estate and follows senior and mezzanine loans provided by BNP Paribas and TH Real Estate respectively for the refinancing of 55 Baker Street in August.
“We find this conservative deal configuration very appealing and, prime real estate like 55 Baker Street supported by top quality sponsors, suits our approach to European debt investments,” said Roland Fuchs, head of European real estate finance at Allianz Real Estate.
“55 Baker Street also expands our UK portfolio, supporting the diversification strategy that the Allianz companies have been pursuing since 2013.”
The 530,749 sq ft prime office property is located in Marylebone and is currently 100% let to a diverse mix of tenants.
It serves as the UK headquarters for Knight Frank, BDO, Oliver Wyman and Brevan Howard, as well as London & Regional’s own London headquarters.
It was acquired by London & Regional Properties in 2005. For London & Regional, Fladgate advised on the finance aspects led by banking partner, Gary Smith with Reed Smith advising on the real estate aspects.