Acquisition for property partner secured
The property Partners has secured a senior loan from Japanese bank Mizuho to finance its £120 million acquisition of Follingsby Park in Gateshead.
Westbrook has worked with the Japanese bank on other recent deals. Over the summer, Mizuho refinanced Westbrook Partners’ West End office building 60 Charlotte Street with a £55m.
The bank also recently provided Westbrook with a £78m loan to refinance a light industrial portfolio of eight assets totalling around 950,000ft².
Bhavin Mehta, vice president for structured real estate finance at Mizuho EMEA, said: “This transaction demonstrates a commitment to our client-centric approach and speed of execution.
“Westbrook are a world-class sponsor and asset manager of UK multi-let light industrial property.”
https://couriernews.co.uk/blog/westbrook-secures-120m-loan-for-acquisition/