Private equity firm raises £28.5m for London office building refinancing

A private equity firm has announced that it has raised £28.5m to refinance its equity on a London office building.

Real estate private equity firm Gaw Capital Partners announced today that is has successfully raised £28.5m in mezzanine financing to refinance its preferred equity on its landmark office building in Docklands, London.

The lending consortium, led by Samsung Securities and KB Asset Management from Korea, provided the five-year mezzanine facility at a LTV of just under 71 per cent.

The deal highlights the growing relationship between Gaw Capital and Samsung Securities dating back to another successful deal of acquiring Aoyama Building, an office building located in the center of Tokyo in 2019.

Christina Gaw, managing principal and head of capital markets for Gaw Capital Partners said “We are delighted to have been able to successfully raise this mezzanine facility with the support of Samsung Securities and KB Asset Management against the uncertain backdrop of COVID-19 and significant global financial turmoil.

“This demonstrates that the market remains open for quality assets with the right fundamentals and strong cash flow.

“We are also excited to collaborate further with our Korean partners on future opportunities in the UK and beyond.”

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