Lotus Capital Arranges $237M for London Apartments
- Mar 15, 2018
Lotus Capital Partners has secured a $237 million loan for Belgravia Gate, a row of townhouses that were converted to 12 luxury apartments in Central London. The loan amounts to $27 million for each of the nine units that comprise the collateral.
Proceeds from the financing will pay off an existing construction loan and cover carrying costs through the property’s sell-out. This is the second nine-figure deal closed by the firm since its inception 15 months ago. This year, the firm expects to close between $1.5 and $2 billion.
The building facade was restored to preserve the townhome’s white, Portland stone exterior, which was originally built in 1867. The apartments are situated across five stories and three basement levels, totaling 81,000 square feet. Floorplans are offered in three townhouse-style Grand Apartments arranged over four floors, six Lateral Apartments, one duplex Mews Apartment and two duplex Penthouse Apartments. Interiors were designed on the scale of a private home, featuring nine- to 13-foot high ceilings, natural lighting, contemporary finishes and restored original designs. Residents have access to amenities including:
- 24-hour concierge and security
- direct elevator access to apartments
- treatment and massage rooms
- business center
- temperature-controlled wine cellars
- basement parking level beneath residences
- car lift
- private reception lobby
- luxurious spa and swimming pool
- gym and personal training facility
- private meeting rooms
- car valet service
“Large deals like this are typically very complex, and the political environment made this financing even more so. Because of our expertise in structuring capital and our global network of lenders with capital to deploy, we were able to deliver the right financing for this market-defining project,” Faisal Ashraf, founder & CEO of Lotus Capital Partners, told Multi-Housing News.
Image courtesy of Lotus Capital Partners