Investec Structured Property Finance has agreed to provide a £14.8m senior loan to Meadow Partners to support its acquisition and redevelopment of a London Docklands scheme.
The facility will finance the site acquisition and support Meadow through the planning process to convert six mixed-use office and retail buildings into a 319-unit residential scheme.
This deal follows a £32.8m loan by Investec to Meadow in 2016 to help fund the acquisition of land and the development of an 84,452 sq ft data centre in the same Docklands area.
The loan structure will allow Meadow to refinance incumbent debt and to progress with its business plan of achieving planning for the residential scheme.
Located near Crossharbour DLR station, the site is a short walk from Canary Wharf.
Mark Bladon of Investec Structured Property Finance said: “This further commitment with Meadow demonstrates our ability to structure seemingly complex loan facilities.
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