Delancey: Delancey Real Estate Closes 105 Jermyn Street Deal for 19.5 Million

Delancey Real Estate is leading real estate asset management and advisory company based in the UK. This article will look at a transaction Delancey Real Estate closed on 10th January 2024, securing a three-year, fixed rate facility to assist Zero Carbon Space Ltd in a deal worth a reported £19.5 million. Zero Carbon Space Ltd is a development platform created through a collaboration between LandCap and NorthStar Capital. The organisation was created with the mission of delivering best-in-class sustainable office spaces. Thanks to the support of Delancey Real Estate, Zero Carbon Space Ltd recently acquired 105 Jermyn Street, a property located in London's St James district, at the heart of the West End. 105 Jermyn Street is a prime, 16,000-square-foot mixed-use asset. Once planning permission has been obtained, Zero Carbon Space Ltd intends to undertake a comprehensive refurbishment of the property. The acquisition financing offered a rare opportunity for exposure to a freehold asset in the area's sub-market, with the debt package representing a loan-to-value ratio of circa 70% and offering the ability for Zero Carbon Space Ltd to request capital for the refurbishment. Martin Farinola, Delancey Real Estate's head of debt strategies, confirmed that company was extremely pleased to ...