LBS completes on £32m Defoe Court deal
Published by Property Week | Wednesday, December 19th, 2018
By Richard Hook
Developer LBS Properties has completed the acquisition of the 43,000 sq ft Defoe Court office building at 44 Featherstone Street for £32m from Amundi Asset Management.
LBS Properties has also simultaneously closed on a funding deal for a £29m loan from Greenoak Real Estate which it will use to refurbish and extend the building, Property Week can reveal.
The deal reflects an initial yield of around 4.5% and forms part of the eight asset Amundi Collection portfolio disposal by Amundi Asset Management. London & Oxford Group previously acquired two of the City assets in the portfolio, 1 King’s Arms Yard and 2 Copthall Avenue, for £58m and £24.5m respectively. …
… Brotherton Real Estate represented LBS on the GreenOak financing in its first deal alongside US joint venture partners Mission Capital. […]
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About Mission Capital and Brotherton Real Estate
Mission Brotherton is a joint venture between Mission Capital and Brotherton Real Estate. Combining Mission’s institutional reach with Brotherton’s deep knowledge of the UK and European markets, allows us to provide real estate capital solutions to our clients, globally.