HFF Real Estate

£350m financing secured for Marylebone residential project

HFF Real Estate has secured £350m of financing for the 76-unit marquee residential project Regent’s Crescent in Marylebone, London (pictured above).

The financing includes £250m of senior debt, which was provided by a syndicate of five lenders based in the UK and the Middle East.

In addition, £100m of mezzanine finance was provided by a range of parties based in the US and the Middle East.

The entire financing was structured as sharia-compliant through multiple commodity murabaha agreements.

The team at HFF worked on behalf of the borrower, a consortium of institutional and ultra-high-net-worth investors based in Europe and the Middle East.

The Grade-I listed property – which was originally designed by Buckingham Palace architect John Nash – has received approval for a complete reconstruction.

The HFF debt placement team representing the borrower was led by Claudio Sgobba, managing director, and Andrew Hornblower, director, at HFF Real Estate.

“HFF is thrilled to have been involved with such a unique, historic transaction and looks forward to seeing Regent’s Crescent take its place as one of the truly special residential assets in London,” said Claudio.

Andrew added: “We are thankful to have assisted the sponsorship in navigating a complex capitalisation with nine distinct capital providers, ultimately reaching a very successful outcome for all parties involved.”

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