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ermes Investment Management (Hermes), the £30.8 billion manager, has completed a seven-year, £120 million loan for its real estate debt strategy. Hermes has provided senior financing to Firmdale Holdings to refinance existing indebtedness secured by the Ham Yard Hotel in Soho, W1D.
£120 MILLION LOAN H
The loan provides further support to the sponsors for expansion of the business and is the second hotel financing completed by Hermes Real Estate Debt Strategy since its inception in February 2015. The £120 million loan brings the total amount Hermes has invested in the UK real estate senior debt market to £485 million across 15 loans.
Vincent Nobel, Head of Real Estate
Debt, Hermes Investment Management, said: “Providing funding to help support Firmdale’s expansion following the success of Ham Yard Hotel, appeals to our investment strategy of delivering holistic returns. The hotel is a great destination created out of a previously disused part of central London. Firmdale’s track record as a best in class manager of boutique hotels gives us great confidence in its ability to manage this asset, while continuing to grow the Group.”
JOINT VENTURE
by Nick Weber, and international real estate firm Hines have formed a joint venture to pursue value-added investments in the European student accommodation sector. This is the second joint venture that
H
Henderson Park and Hines have formed, following shortly after their acquisition of the Ledra Marriott hotel in central Athens in June. The Joint Venture is embarking on its
first project to develop a 630-bed student accommodation development in Lancaster in the UK. The new facility is currently under construction with completion in time for the 2019/2020 academic year. Once complete, the scheme will
incorporate a range of shared facilities including a roof level lounge, study library, gym and cinema space, creating an attractive and secure off-hub campus for students. With over 13,000 students, Lancaster
University is one of the UK’s top ten universities and was recently named University of the Year in The Times Good University Guide 2018.
WIREDSCORE LAUNCHED W
iredScore, the world’s leading rating system for technological capacity in commercial buildings, has announced its launch in
Canada.
Following its aggressive expansion across Europe this year, WiredScore has continued its growth in North America. Toronto businesses will now be able to identify office buildings that offer the best-in-class connectivity infrastructure to keep their companies online thanks to Wired Certification. Research into how Toronto – as Canada’s top tech city – keeps businesses online, also launching today, found that 99% of the Greater Toronto Area’s (GTA) s office workers said access to reliable internet is critical, but over 90% experience connectivity problems in the office. 95% also report that when there are outages or poor connectivity it negatively impacts their companies and themselves.
175 YEAR MILESTONE S
outheastern has celebrated Ashford International’s 175th birthday with a ceremony to mark the station’s rich history. The event, which was attended by dignitaries including
Leader of Ashford Borough Council Cllr Gerry Clarkson, featured a photographic exhibition donated by Ashford Borough Museum, as well as memorabilia supplied by rail heritage group Network SouthEast Railway Society. To mark the occasion, Cllr Clarkson unveiled a specially named train, with the name plate ‘Ashford, Proudly served by rail for 175 years’. Over the past 175 years, the station has played a crucial role
connecting communities in Kent and the South East. Today, Ashford International station is used by over 3.6 million passengers each year, and still provides a vital link between Kent and central London.
COMMERCIAL PROPERTY MONTHLY 2017
BS Asset Management's (UBS-AM) Real Estate & Private Markets (REPM) business announces that Stefan Rose has been appointed as a Portfolio Manager in its Infrastructure Debt team. Stefan’s appointment further strengthens REPM’s USD 4 billion infrastructure platform, which invests in both equity and debt. The team now comprises over 30 professionals located across five offices globally.
U
With over 17 years of experience in financing pan-European infrastructure projects Stefan brings a wealth of relevant experience with him and will report to Tommaso Albanese, Head of Infrastructure. Based in London, he will be responsible for working on the origination, analysis, due diligence and execution of investment opportunities across Europe. Stefan’s initial focus will be on the deployment of the remaining commitments of REPM’s inaugural Archmore Infrastructure Debt Platform.
15
enderson Park, the European real estate investment platform founded
VIBRANT ECONOMY THE FACE OF A
EPC’s Roz Bird, Commercial Director for Silverstone Park, has been announced as one of 100 business people likely to have a significant impact on the UK economy in the next 12 months. Roz was named as a Face of a Vibrant Economy for 2017 at a Grant Thornton UK ceremony in London last night. Grant Thornton is one of the UK’s largest professional services firms. Its Faces of a Vibrant Economy celebrates leaders from across the public, private and third sectors who exemplify what it takes to develop a vibrant economy. From emerging entrepreneurs to big business names, its 100 Faces list showcases individuals who are delivering against growth, innovation and social purpose. Roz has been in charge of high-tech business estate Silverstone Park’s development since MEPC took control of the site. Significantly she has also been a prime mover in establishing the Silverstone Technology Cluster (STC) – the region within an hour’s drive time of Silverstone identified in a high profile SQW report as being home to around 4,000 companies with exceptional capabilities in high-tech engineering.
M CONTEMPORARY CO-WORKING SITE C
reative workspace pioneer Spaces has opened its new hub in Reading. The centre occupies 3576 sq.m of 9 Greyfriars, a
new, energy efficient office building at the heart of Reading town centre. Born in Amsterdam, Spaces integrates lifestyle and work by
providing creative working environments for individuals and businesses. The company has a unique entrepreneurial ethos that encourages networking amongst its members. The new Reading hub meets the demand for the variety of working environments that today’s entrepreneurial businesses demand. It offers private offices and meeting rooms, as well as vast co- working space, and an on-site café serving fresh food and barista-style coffee.
The location can be accessed directly from London, Birmingham, Bristol, Cardiff and the North.
NEW APPOINTMENT
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