Two major London schemes secure £162m from Lloyds

摘要

Lloyds has provided £162m in debt financing to fund Ronson Capital Partners' Chiltern Street development in West London and the residential conversion of the Royal Star & Garter building in Richmond by London Square and ARES Management. In the first deal, the bank's commercial real estate team teamed up with Barclays to jointly arrange a £147m three-year development facility on a 50:50 basis to Gerald Ronson's RCP for its 68 Chiltern Street scheme. RCP bought the vacant office building on the corner of Chiltern Street and Paddington Street in Marlyebone in 2011 and is looking to convert it into a 55-unit residential scheme with ground-floor retail space.