1st Nov 2013 08:47
LONDON (Alliance News) - Starwood European Real Estate Finance Ltd Friday said it would provide GBP40 million of a GBP220 million loan to London property developer Almacantar for refinacing of its existing loan on the Centre Point building in central London and providing funds for refurbishing the building.
A further GBP180 million of the new loan is being provided by Starwood Property Trust.
Almacantar got planning consent in July to refurbish the building into a mixture of flats, shops and restaurants.
Starwood European Real Estate Finance shares were up 0.8% at 100.25 pence early Friday.
By Steve McGrath; [email protected]; @SteveMcGrath1
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