Credit Agricole CIB has financed Perella Weinberg Partners’ acquisition of One Poultry in the City of London with a £77m three-year senior loan.
A subsidiary of Perella Weinberg Real Estate Fund II LP acquired One Poultry from private investor Michael Feldman for approximately £110m initially on an all-cash basis at the end of April.
Additionally, Credit Agricole is expected to agree a capex facility with Perella which is expected to be earmarked for a possible refurbishment dominant tenant, Aviva, leaves the office at the end of its lease in September 2015.
CoStar News understands that Credit Agricole has closed a £95m senior loan secured by a large London retail asset which is expected to be confirmed tomorrow.
One Poultry also comprises a retail parade below the office space, home to names such as Crabtree an equal share of the £60m refinancing of Almacantar’s CAA House.
In March, Credit Agricole participated in Belmond’s dual currency $657m senior secured facility as senior co-manager under the $552m “Term Loan B” and the additional $105m RFC. Belmond is the new brand of Orient-Express Hotels.
Credit Agricole’s UK real estate lending team is headed by managing director Anne Toledano, who succeeded Neal Ledger last September after his move within the bank to Hong Kong. CA-CIB runs a global real estate lending platform across nine countries including the US, Singapore, Hong Kong, Tokyo, Australia, the UK, Italy, Spain and France.
Last month Real Estate Capital reported that Deutsche Bank and Credit Agricole were together looking to refinance and securitise an existing Credit Agricole originated £550m senior loan secured by Westfield Stratford, the East London shopping centre.
Westfield Stratford is owned by Westfield, Canada Pension Plan Investment Board and APG, the Dutch pension fund manager.