Cain International, McCourt Partners, Galliard Homes, Vanke and Investec have secured a £124m refinancing for the commercial components of the Stage, its 250,009 sq ft development in Shoreditch, EC2.
The funding has been secured from Japanese lender Mizuho Bank on a four-year term.
Earlier this year, Cain and its partners agreed a £188m refinancing with Macquarie Capital for the residential component of the Stage, which consists of a 37-storey residential building comprising 412 flats, sky terrace and underground amusement arcade.
Ben Tooley, managing director at Cain International, said: “This major refinancing deal follows significant commercial momentum at the Stage, reinforcing our belief in the resilience and attractiveness of well-positioned, mixed-use developments in dynamic urban centres.”
Andrea Patti, head of real estate finance, Mizuho EMEA, added: “The Stage is a compelling product, featuring a rich history, modern amenities, and a premium location in the beating heart of the city, aligning with our commitment to financing in high-quality projects. This transaction is another example of our capabilities in providing complex structured finance solutions across the UK and EMEA, with a ‘make it happen’ and relationship-focused approach.”
JLL advised Cain on the funding.
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