Barings Real Estate has provided a £53.9m development loan facility on behalf of an institutional investor to Meadow Partners for the development of Hathaway House, a mixed-use scheme in Maida Vale, W9.
The facility will enable the real estate investor and asset manager to construct the circa 100,000 sq ft mixed office and residential development.
It will comprise 74 for-sale apartments, including 19 affordable units, and around 20,000 sq ft office space, of which around approximately 70% has been prelet to an NHS Foundation Trust on a 20-year lease.
Chris Bates, head of core mortgage Europe at Barings, said: “Through this transaction, Barings is enabling the transformation of a former neglected site into a high-quality mixed-use development that will provide additional housing supply for London.
“This marks our 14th financing in London as we continue to grow our lending platform across a diverse range of markets and demonstrates our ability across all property types.”
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