Macquarie Capital Principal Finance has given the owner of Herbal House, a 1920s Farringdon block which was originally the Daily Mirror’s printing headquarters, a £106.2m senior loan to refinance the property.
The three-year loan facility, sold to Aerium Finance, will be funded from Macquarie’s balance sheet for the 10-floor office and residential building in EC1.
Aerium bought the 115,000 sq ft site in 2012 for £26m, before carrying out a comprehensive refurbishment five years later.
Alexi Antolovich, global co-head of real estate at Macquarie Capital Principal Finance, said: “The landscape for commercial real estate has changed dramatically over the past year.
“We are seeing increased demand from sponsors seeking recapitalisation of high-quality assets in their portfolios and Macquarie is able to support by offering certainty and fast execution.
“We are pleased to support Aerium with a recapitalisation of Herbal House after an extremely successful execution of its long-term business plan to refurbish and relet the property.”
To send feedback, e-mail alex.daniel@egi.co.uk or tweet @alexmdaniel or @estatesgazette
