DekaBank has provided a £204.6m to the Korean buyers of 20 Old Bailey, EC4.
The 240,000 sq ft building was bought by a consortium from Blackstone for £340m last month.
Mirae Asset Daewoo and NH Investments & Securities, the investment and securities powerhouses operating in South Korea, backed the acquisition of the building by Seoul-headquartered FG Asset Management and London-headquartered European real estate investment manager Valesco Group. Hines UK is managing the assets for Mirae.
The five-year loan reflects a loan-to-value ratio of 60%.
It is the second deal that Deka has completed since it turned is representative office in April to a fully established, autonomous branch, having also provided a £48m refinancing of TH Real Estate’s 55 Colmore Row in Birmingham.
The German bank has a €2bn loan book in the UK and Ireland with its London office led by Mark Titcomb.
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