Private equity and real estate debt group EquityBridge Asset Management has funded two deals for Union Hanover.
The investor and developer secured £15.5m of consolidated funding for its Black Lion site in Aldgate, which is earmarked for a 220-bedroom extended-stay hotel.
The funding enabled Union to repay senior lender Topland, which provided acquisition finance for the 75,000 sq ft office block.
It also meant Union could buy out the remaining 47.5% stake in the scheme from developer Southern Grove and Rise, which will remain project manager.
EBAM also provided acquisition finance for Union’s forward-funding of 100 serviced apartments from Barratt Homes London at its Great West Quarter scheme in Brentford, west London.
Bridget.O’Connell@estatesgazette.com
