HB Reavis has secured GBP 127 million financing for its flagship project 33 Central in London. The largest loan facility in HB Reavis’ history has been provided by two German banks, pbb Deutsche Pfandbriefbank and Deutsche Hypothekenbank, new lenders in HB Reavis’ portfolio of credit relationships. The facility has been already utilised and enabled to refinance equity spent by HB Reavis into the project.
We are very pleased to open credit relationships with two new lenders, pbb Deutsche Pfandbriefbank and Deutsche Hypothekenbank on the London market, where we are actively increasing the scale of our operations. This financing endorses the quality of 33 Central and demonstrates the trust financial institutions place in HB Reavis as a highly credible partner. The loan facility helped us optimise our capital structure, following significant divestments in 2016 that reduced our leverage levels