Barings Real Estate

Barings Real Estate supports office acquisition with £83m loan

Barings Real Estate has provided an £83m loan on behalf of an institutional investor to support the freehold acquisition of 55 Mark Lane by Hao Tian Asia Investment Company Limited.

The seven-year fixed rate first charge mortgage was provided at 65% LTV.

The property in the City of London comprises around 161,689 sq ft of Grade-A office, retail and ancillary accommodation over 10 floors, including a basement level.

It is currently fully let and has eight office tenants occupying the property.

“This significant loan has enabled the purchase of a high-quality asset in a prime City office location with strong covenants and the potential for rental growth,” said Chris Bates, head of real estate core mortgage Europe at Barings.

“We remain confident in the outlook for London and its attractiveness for international business, as evidenced through this transaction.

“We look forward to building on recent momentum to grow our lending platform.”

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