Gaw Capital secures financing from Korean-led consortium

Gaw Capital Partners has raised £28.5m to refinance its preferred equity on 1-5 Harbour Exchange in the Docklands, E14. The five-year mezzanine financing has been provided by a consortium led by Korea’s Samsung Securities and KB Asset Management at an LTV of just under 71%. Gaw Capital acquired Harbour Exchange 1, 2, 4 and 5, which comprises 600,000 sq ft across four buildings, on behalf of Asian investors in September 2014. Tenants in the buildings include the Financial Ombudsman Service, CLS, Booking.com and QBE Insurance. Christina Gaw, managing principal and head of capital markets for Gaw Capital Partners, said: “We are delighted to have been able to successfully raise this mezzanine facility with the support of Samsung Securities and KB Asset Management against the uncertain backdrop of Covid-19 and significant global financial turmoil. “This demonstrates that the market remains open for quality assets with the right fundamentals and strong cash flow. We are also excited to collaborate further with our Korean partners on future opportunities in the UK and beyond.” To send feedback, e-mail louise.dransfield@egi.co.uk or tweet @DransfieldL or @estatesgazette