BLP advises Westdeutsche ImmobilienBank AG on new £90m credit facility to Heathrow Big Box
Berwin Leighton Paisner (BLP) advised Westdeutsche ImmobilienBank AG (West Immo) on the £90m credit facility to Heathrow Big Box (HBB) a 50:50 joint venture between Brixton plc and the Prudential Assurance Company Limited.
This facility, which includes £31m of new partner loans to HBB from the joint venture partners, has been used to repay the bank’s £121m loan facility which expired on 20 July 2009 and is secured on industrial property at Axis Park, Slough and Heathrow Corporate Park, Hounslow.
The BLP team was led by finance partner Emma Howdle-Fuller with support from finance associates Daisy Reeves and Daniel Charvill, finance trainee Marc Gilston and real estate associate director Patrick Taylor.
Commenting on the transaction, Emma Howdle-Fuller said: “This deal is the latest in a number of financings by West Immo who are still very much active despite market conditions and demonstrates that finance continues to be available for the right opportunities”.
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