London & Stamford has secured finance from Royal Bank of Scotland following its £147m purchase of residential block Moore House, SW1.
The REIT’s new Central London Residential joint venture, which includes Middle Eastern investors Green Park and Canadian pension fund PSP Investments, has agreed a £65m facility with the lender to refinance the block it bought on 20 July.
The 118,000 sq ft building, which comprises 149 flats, was purchased from Qatari Diar subsidiary Project Red using existing funds from the £200m vehicle launched in June.
The Ebury Bridge Road property is part of the Grosvenor Waterside development, and is immediately to the south of The Chelsea Barracks development.
Each flat is held by way of a 999-year leasehold interest.
bridget.oconnell@estatesgazette.com
