Fladgate LLP has acted for London & Regional on the finance aspects of the refinancing of 55 Baker Street, a 530,749 sq ft prime office building owned and managed by London & Regional.
The central London property serves as London & Regional’s London headquarters and includes tenants such as BDO, Knight Frank and Oliver Wyman. The senior debt facility was provided by BNP Paribas with TH Real Estate providing mezzanine debt.
The Fladgate team comprised partners Gary Smith (banking), Charles Proctor (banking) and Jeremy Whiteson (corporate), assisted by associates Daniel Whebell (banking) and Gemma Grunewald (tax).
Commenting on the transaction, Gary said: “It is always a challenge negotiating with separate lenders with overlapping interests in a funding package of this type. It is a real testament to the firm’s strength in depth and technical expertise that we were able to respond to the diverse range of challenges that inevitably arise in a transaction of this nature.”
Reed Smith advised London & Regional on the real estate aspects of the transaction; the other parties were represented by Hogan Lovells, Paul Hastings and Berwin Leighton Paisner.