Deutsche Pfandbriefbank has provided a £75m acquisition loan to Tishman Speyer on its purchase of Economist Plaza at 25 St James’ Street, W1.
The fund purchased the asset in February for £132.5m from the Economist publishing group.
The loan represents a 43% loan-to-value ratio on the three office-led buildings. Arranged around a central plaza, the Tower Building, the Bank Building and the Residential Building cover 81,000 sq ft, with the Tower Building being the tallest building in St James’s.
The deal was Tishman’s fourth purchase in two years following the acquisition of 100 New Oxford Street, WC1, and the 2014 acquisitions of Sainsbury’s headquarters at 33 Holborn, EC1, and the Point in Paddington, W2.
• To send feedback e-mail mike.cobb@estatesgazette.com or tweet @MikeCobbEG or @estatesgazette
