6th December 2018
Brixton Market secures new funding
BBS Capital has arranged a facility with Starz Real Estate to refinance the shareholder loans used to acquire Brixton Market.
The funding is for a joint venture between Angelo Gordon and Hondo Enterprises, which purchased the 60,363 sq ft London market earlier this year.
Starz Real Estate is a newly launched debt fund, and this transaction represents its second investment.
Starz provided a five-year term facility representing an LTV of 68%.
Hondo Enterprises will continue to lead on the purchase, management and decision-making within Brixton Market.
Adam Buchler, of BBS Capital, said: “The unique potential of this asset and the quality of the sponsor attracted strong interest from a number of lenders.
“In such a competitive debt market it’s important that we have the confidence to work with newly formed lenders such as Starz if we are to optimise the position for our clients.”