London-based Investec’s structured property finance team has sold three office assets for a total of £100 million (€111.6 million).
The original equity investments, a mix of development and investment, were made by Investec Property, which was integrated into the structured property finance business in June of last year.
Will Scoular, Investec’s co-head of structured property finance origination, said: “Despite the challenges presented by Covid-19, appetite for our funding solutions has remained resilient and during lockdown we have continued to close new loans across a number of different sectors including residential investment and development as well as commercial office.”
The sales took place following the successful completion of each asset’s individual business plan, according to the firm.
The three assets were:
- Panther House (pictured), an office scheme with consent for a significant refurbishment in central London, acquired in joint venture with Argo and Dukelease and sold in June 2020 for £36 million.
- Imperial Park, Newport, disposed of in March 2020 for £15 million.
- Kings House, Hammersmith, developed in joint venture with Kier and sold in September 2019 for £50 million.
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