£60m refit for CAA House
Estates Gazette

£60m refit for CAA House

Mike Hussey’s Almacantar has secured a £60m refinancing for CAA House from Crédit Agricole CIB and Sumitomo Mitsui Banking Corporation.

The banks have completed the deal for the interconnected offices at 43-59 Kingsway and 1 Kemble Street, WC2.

The loan represents a 50% LTV and the maturity has been extended from July 2015 to June 2018. Almacantar bought the Midtown block in March 2012 for £110m. It is leased to the Civil Aviation Authority until December 2019 at £6.2m pa.

Crédit Agricole CIB arranged the refinancing and also acted as facility agent, security trustee and hedging bank.