Leumi UK and Westbrooke have agreed a £33m refinancing package with Tristan Capital Partners’ EPISO3 fund for the Fort Dunlop mixed-use asset in Birmingham.
The 375,000 sq ft property, which was formerly the headquarters of Dunlop Tyres, comprises 300,000 sq ft of office space, 36,000 sq ft of retail and leisure accommodation and a 100-bedroom hotel.
Gez O’Sullivan, relationship director at Leumi UK, said: “It is fantastic to extend our relationship with Tristan Capital Partners, following our previous financing agreement for One Stratford Place. Tristan are an extremely knowledgeable investment manager with a strong track record in European real estate. Fort Dunlop is a well-located and appropriately amenities asset whose strong fundamentals have proved a compelling draw for tenants.”
Harry Newall, from Westbrooke, added: “This deal underlines the importance of private debt in offering sustainable financing options for experienced real estate investors such as Tristan Capital Partners. Whilst the regional office sector is currently out of favour with the capital markets, we believe there are still plenty of high quality assets in this space such as Fort Dunlop. It has been a pleasure working with the team at Tristan and again with Leumi UK, who have demonstrated their extensive expertise in the office market.”
