01 Oct 2013 | 04:52 pm |
International law firm Pinsent Masons has advised, Barclays, HSBC, Lloyds and Royal Bank of Scotland, on the £550 million revolving facility for FTSE 250 property investment company Derwent London plc.
Derwent, which is the largest Central London focussed Real Estate Investment Trust in the UK, has made a name for itself by investing in an extensive portfolio of properties which are located within 800 metres of a Crossrail station. One of its landmark properties includes Number One Oxford Street, a regeneration project situated above the new Tottenham Court Road Crossrail and London Underground station at the junction of Tottenham Court Road and Oxford Street.
The Pinsent Masons team advising on the deal was led by banking partner William Oliver assisted by Liam Terry and Anthony Frost. Slaughter and May acted for Derwent London plc.
Commenting on the deal William Oliver said: "We have seen a noticeable increase in transactions over the past three to six months, culminating in a peak period over the summer where we closed deals worth over £1.2bn in the space of a fortnight. We have an encouraging pipeline in place and are hopeful that this is a positive sign of things to come.”
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