Starwood bought South Bank Central, comprised of fully leased offices, apartments, retail and leisure units over 23,465 sq ft, for £225m from Hermes Investment Management and the Canada Pension Plan Investment Board last December, implying an approximate LTV of 77%. WeWork is among the tenant base.
Allianz finances Starwood’s South Bank Central with £173m senior loan
Allianz Real Estate has financed Starwood Capital’s December acquisition of South Bank Central, formerly South Bank Tower, with a c.£173m (c.€200m) senior loan, in one of a trio of deals across Europe in recent weeks.
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