LaSalle IM has provided a £110m senior loan for Manhattan Loft Gardens in Stratford.
The facility was made from the LaSalle Real Estate Debt Strategies III fund to Harry Handelsman’s Manhattan Loft Corporation.
It will finance the 42-storey tower, which is situated between the Queen Elizabeth Olympic Park and Stratford International Station.
The development comprises a 146-bedroom hotel, operated under The Stratford Brand, with 248 apartments on top. It incorporates three sky gardens, a gym and a dry spa.
Amy Klein Aznar, head of debt investments and special situations at LaSalle, said: “We have been large and consistent financiers in UK residential, and our Manhattan Loft Gardens financing is in line with our residential debt investment strategy focused on urban growth areas near transportation nodes.”
LaSalle has financed over £650m in UK residential in recent years, across the LREDS and LRF series. The latest loan is the 15th deal from LREDS III since 2017, bringing deployment to around 90% of committed funds.
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