An asset back financing transaction in real estate in the United Kingdom

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17/06/2013 – a consortium led by Armat Group provided a full development finance for the speculative development of the 317,000sqft Aldgate Tower office building in London.

  • The £85.5m speculative development finance is being provided by a consortium led by Armat Group and GWM Capital Advisors, member of GWM Group, a diversified asset and fund management company. Brookfield Multiplex are the appointed Contractor and construction will commence immediately with the building completed and ready for full occupation at the end of 2014.
  • Aldgate Developments will act as Developer and is a Property Company with strong financial backing and a pro-active in-house development team. Aldgate Developments specialise in resolving difficult development sites and own significant projects in the Aldgate area. They are particularly focused on the Central London office market where they are willing to progress major developments on a speculative basis.
  • Armat Group is a private equity and real estate investor dedicated to engineering tailor made solutions in both equity and debt position. Thanks to its international reach, Armat Group has access to a wide array of private and institutional clients willing to invest on a discretionary and opportunistic basis.
  • Aldgate Tower is Phase One of Aldgate Developments’ plans for Aldgate area which is currently undergoing an extraordinary transformation with major high rise mixed-use developments currently under construction. Aldgate benefits both from strong public transport links and from its unique location adjoining the City of London, Spitalfields and Shoreditch and within the Tech City UK area.
  • Aldgate Tower will provide flexible 20,000 sq ft column free floorplates that will appeal to a wide range of prospective tenants
  • Further details can be found at or from BNP Paribas Real Estate and Savills, who have been appointed as joint agents on the development.

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