Lloyds Banking Group is providing £185m of financing for a designer outlet village at the O2 Arena in London.
The loan is the bank’s largest commercial property development loan since the financial crisis, and comes as its global head of commercial real estate, John Feeney, says such lending will be at the centre of the bank’s strategy.
The loan – to O2 owner AEG and joint venture partner Crosstree real Estate Partners – will be partly syndicated, although Lloyds will retain a large interest.
