Hilco Real Estate Finance (HREF) has completed a £14.6m refinancing deal with Clarendon Properties secured against a retail-focused property in Kensington, London.
The property, which is located at 146-158 Kensington High Street, comprises circa 20,000 sq ft of retail accommodation and is let to tenants including Decathlon and Robert Dyas.
The transaction brought together HREF’s London and Dublin teams to provide a quick financing solution.
Colm O’Sullivan, business development director for HREF in Dublin, said: “The borrower is an experienced property investment group. We worked closely with the sponsor and its advisers to understand its requirements and move the financing forward promptly. The collaboration between our Dublin and London teams helped deliver a solution suited to the property and the sponsor.”
Alexey Shokhin, origination director at HREF in London, added: “Our knowledge of the London property market helped us assess the Kensington asset and progress the transaction efficiently. It is a strong example of how we combine local insight with a practical approach to lending.”
Marko Drljevic, who led the underwriting for HREF, said: “The sponsor’s experience, together with the property’s location and tenant profile, provided a clear basis for our assessment. Close coordination across the transaction team enabled us to complete our review and deliver the refinancing.”
The financing was introduced by Deloitte’s Dublin team. HREF was advised on the transaction by CBRE and Eversheds.
