Real estate

Brookfield secures £280m Santander-led development loan for new Amazon HQ

Brookfield Office Properties has agreed a £280m development loan for Principal Place to finance the construction of the 15-storey office block over 600,000 sq ft on the border of Liverpool Street and Shoreditch. Santander is the agent on the three-bank development club deal, with LBBW and Crédit Agricole Commercial Investment Bank all joint leads on the underwriting. Santander and LBBW will reportedly provide £105m each, while Crédit Agricole CIB is to provide a £70m commitment. Pricing on the development facility is understood to be sub 300 basis points over three-month LIBOR. The development funding, which could close before year end, secures the construction finance for the office block almost three years after the original development – under Hammerson's ownership – was aborted after City law firm CMS Cameron McKenna pulled its 200,000 sq ft pre-let citing current uncertainties in financial markets.


Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.



Other Articles

When you’re an established business, recruiting top talent in all the areas you need can seem like a never-ending challenge.


If you’re a start-up or small business, how can you put together an attractive employee package to appeal to top talent – graduate and…


Mexico is predicted to become one of the world’s top 10 economies in the next 10 or 20 years.

Stop fraud

More than one million incidents of financial fraud occurred in the first six months of 2016, according to official figures released by…

Santander’s Head of SME International Mark Collings discusses why exporting to new global markets may provide businesses with new and…

Where Next?