Fitzroy House: DRC Savills Secures Financing for West End Redevelopment
Deal News | Apr 04, 2025 | Paul Hasting
In the latest development of its investment strategy, DRC Savills Investment Management has successfully completed a refinancing and capital expenditure (capex) facility for Fitzroy House, a premium freehold office located in London's prestigious West End. This transaction is indicative of a broader strategic use of their recently launched Pan-European Whole Loan Fund, aimed at financing acquisitions and enhancing real estate value across Europe. Paul Hastings LLP, in its advisory capacity, provided comprehensive financial legal assistance, covering the drafting of the facility agreement, and due diligence. The legal expertise of partners Miles Flynn and Rehan Hanif was crucial in this transaction, supported by associate Solomon Olukoya and senior paralegal Angela Morgan, demonstrating a robust and collaborative approach to facilitating this high-stakes financial transaction.
Sectors
- Real Estate Investment
- Private Equity and Investment Management
- Legal Advisory Services
Geography
- United Kingdom – The primary location of the investment, Fitzroy House, is in London's West End, making the UK a central focus of this transaction.
- Europe – The Pan-European Whole Loan Fund targets investment across Europe, indicating a broader geographical strategy.
Industry
- Real Estate Investment – The article focuses on real estate investment activities involving the financing and redevelopment of office properties in prime locations, such as London's West End.
- Private Equity and Investment Management – DRC Savills Investment Management's activities, including the use of its Pan-European Whole Loan Fund, place it within the private equity and investment management sector.
- Legal Advisory Services – Paul Hastings LLP provides comprehensive legal advisory services, particularly in financing transactions related to real estate.
Financials
- Not Specified – The exact monetary value of the refinancing and capex facility has not been disclosed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| DRC Savills Investment Management LLP | Lender | Company | An investment management firm involved in the refinancing and redevelopment of real estate projects across Europe. |
| Paul Hastings LLP | Legal Advisor | Company | A law firm that provided legal advisory services for the refinancing and capex facility involving Fitzroy House. |
| Fitzroy House | Target Property | Real Estate Asset | A prime freehold office property located in London's West End, subject to refinancing and redevelopment. |
| Miles Flynn | Lead Partner | Person | A partner at Paul Hastings LLP who led the legal team advising on the transaction. |
| Rehan Hanif | Lead Partner | Person | A partner at Paul Hastings LLP who co-led the legal team advising on the transaction. |
| Solomon Olukoya | Associate | Person | An associate at Paul Hastings LLP, part of the legal advisory team. |
| Angela Morgan | Senior Paralegal | Person | A senior paralegal at Paul Hastings LLP, part of the legal advisory team. |