Starz Real Estate has provided a £73.2m senior facility to Ziser London (the “Sponsor”) for the refinancing of a fully let, income generating, residential and commercial portfolio located in central London.
The portfolio comprises nine properties of which there are six residential properties, one commercial property and two mixed-use — residential and office — assets across a total lettable area of over 127k sf. The residential portion is predominantly studios and 1-bed flats whilst the commercial component is multi-let to a diversified tenant base except for one asset which is single let.
The portfolio is well located in north and southwest London within zone one and two, including or neighbouring some of the most affluent London’s residential areas such as the Borough of Kensington and Chelsea, the Borough of Hampstead and the Borough of Camden. The portfolio benefits from excellent transport links, with all properties within a short walking distance from underground and overground stations such as Earl’s Court, Belsize Park, Swiss Cottage, Hampstead Heath, South Hampstead and Highbury & Islington.
Starz’s loan allowed the Sponsor to optimise their borrowing strategy by replacing the five incumbent institutional lenders with one lender.
Limor Shilo, Head of Origination at Starz Real Estate, said: “We are pleased to have partnered on this refinancing transaction with the Ziser Group, a highly experienced long-term investor within the London property market. The subject portfolio is underpinned by robust real estate fundamentals, supply-demand imbalances and benefits from good locations and transport links.
It was also a pleasure working with Brotherton on this financing, their professional team ensured a seamless execution. This was our third cooperation with Brotherton this quarter, who advised the Sponsor and was instrumental in bringing this deal to a timely close in a professional way”.
Guy Ziser, Managing Director at Ziser London, said: “We are very pleased to close this transaction with Starz. The somewhat granular nature of the portfolio for a deal of this size isn’t something that every lender would be able to get their heads around let alone in what was quite a tight timeframe. This demonstrates a commercial, practical approach and understanding of real estate which we really appreciate when looking to build long-term relationships”.
Ziser London were advised by Brotherton Real Estate and NWL Solicitors; and Starz by Fieldfisher, Cains, and Walkers. Colliers provided valuation services.
Notes to Editor
About Starz Real Estate:
Launched in July 2018, Starz is a commercial real estate lender focused on middle-market loans throughout Europe. With a balance sheet built for the long haul, Starz is a flexible and reliable source of capital for real estate investors. Starz provides collaborative lending solutions coupled with streamlined underwriting processes that ensures seamless service.
About Ziser London:
A UK based family office with a track record in developing and investing in London based residential and commercial properties for 30 years. The Group are long term real estate investors who seek to add value through development and refurbishment initiatives with a focus on active asset management to drive income. Current AUM totals c. £500m.
For more information, please visit: ziser.co.uk