Legal & General has provided a loan for the £296m acquisition of Olympia London Exhibition Centre by a consortium of investors led by Deutsche Finance International and Yoo Capital.
The loan, details of which have been kept private, was arranged over a five-year term and its draw down is immediate.
Ashley Goldblatt, head of commercial lending at LGIM Real Assets, said: “Representing our first acquisition finance deal, this debt facility brings our total lending to over £2bn and demonstrates our ability to continue to move into areas that the market might not traditionally expect to see us in.
“Olympia London is an iconic exhibition centre of a scale and enviable location not replicated elsewhere in the UK. With the combination of Deutsche Finance’s and Yoo Capital’s vision and asset management expertise, it has a strong future.”
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