Debt advisory secure financing for Seaton Place’s newly launched £135 million Silk Road Opportunities Fund

08 11 19 JTC building

 

Colliers International’s debt advisory team support Jersey’s Seaton Place to boost portfolio to gross asset value of c£135 million

 

Colliers International’s debt advisory team has supported their client, Seaton Place, acting as investment advisor to Silk Road Opportunities Fund IC, to secure the acquisition of 27/28 Esplanade, a 70,000 sq ft prime office building in Jersey for £41 million. Colliers also advised their client on a refinance of its £90 million, 165,000 sq ft prime office investment in Gaspé House, also on the island, which was originally acquired in late 2018.

27/28 Esplanade, known as JTC House, is a modern, Grade A commercial property which was completed in 2017 to the highest standards and specifications, with a BREEAM rating of ‘Very Good’. Spread over seven floors the building, which is fully let on long leases to high-quality tenants, occupies a prime position in the island’s central business district.

Through their knowledge of the financial markets, the Colliers’ debt advisory team was able to identify a US institution not previously active in the Jersey market and to source from it highly advantageous terms for the Fund’s bespoke capital structure. The offer afforded such an exceptional structured return that the Fund’s previous investment in Gaspé House was refinanced on those same favourable terms.

Laurence Richardson, Colliers’ Director of Debt Advisory, said: “Our in-depth knowledge of the real estate finance market has meant that we’ve been able to support Seaton Place to get the optimum senior financing terms for both the acquisition and the existing investment. We are delighted to have been involved and to have assisted our client to further its strategy and maximise the efficiency of its capital structure.”

Steve Herbert, of Seaton Place, added: “We are delighted to have followed up last year’s purchase of Gaspé House with the acquisition of another high-quality office building in the heart of Jersey’s business and financial district.

Colliers helped us to identify an ideal funding partner for both assets which, together with the successful launch of the Silk Road Opportunities Fund, now gives us a platform from which we can continue to grow our portfolio.”

Colliers began offering clients a debt advisory service in October 2018, having acquired a former debt advisory business, which has advised clients on more than £6.5 billion of development and investment loans over the past five years.


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Laurence Richardson

Director

Jersey

Laurence is a Director at Colliers International in Jersey, where he joined the team in 2016.

He specialises in institutional and corporate debt financing. Working across all parts of the debt stack, and all real estate asset classes, he is passionate about structuring creative credit solutions to further a client’s investment objectives and maximise target returns.

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Hannah Zitren

PR Manager

London - West End

Currently on maternity leave.

As PR manger in the UK, I am responsible for media relations and generating coverage in top tier media. I work across a range of Colliers’ UK & Pan-EMEA business lines (residential; licensed and leisure; planning; hotels; retail; healthcare and automotive) advising on their strategic and tactical PR needs.

My role includes:

·         Developing and executing PR plans for the various business lines to help promote their key messages across all aspects of the media - print, broadcast and social.

·          Media evaluation and reporting objectives, targets and successes across the business.

·         Reputation management and crisis management.

·         Media training.

·         Media engagement: setting up meetings with top tier media and various internal spokespeople to continuously expand and build a presence with property and vertical media network.

·         Consistently delivering service excellence, meeting with business heads of a regular basis and trying to influence the research as much as possible to ensure our content has a strong enough news hook.

·         Key campaigns that I work on include MIPIM; MAPIC; REVO; Midsummer Retail Report; IHIF; Cities of Influence in addition to a host of all alternative property sector research reports.

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