18 Aug 2022

Tristan's TIPS One Debt Fund Provides £80 Million of Financing for London Residential Tower

Source: Tristan Capital Partners

18 August 2022, London: Tristan Capital Partners’ TIPS One Debt Fund has completed a £80 million senior loan to refinance 204 apartments in the Manhattan Loft Gardens tower in the Olympic Park in Stratford, east London.

Alongside the apartments, the 42-floor tower includes a seven-floor hotel and benefits from its location next to the East Village and Elizabeth Park, an area that has experienced significant residential development in recent years. The location also benefits from exceptional connectivity to all parts of London which was further enhanced with the opening of the Elizabeth Line in recent months.

Dan Pottorff, Head of Debt Investment at Tristan Capital Partners, said: “The Manhattan Loft financing is a continuation of the core strategy of TIPS One which is to finance sponsors with a strong demonstrated history of developing and investing in prime assets that drive income and capital growth. This is an exceptional quality residential asset which provides a unique opportunity to gain exposure to the London residential market at an attractive basis.  This loan marks our seventh since launching in summer 2021 representing more than €300 million lending volume with many more attractive opportunities in the pipeline.” 

Lloyd Hunt, Finance Director at Manhattan Loft Corporation, added: “We very much appreciated Tristan Capital Partner’s partnership and solution-based approach to the refinancing of our award-winning residential tower. This facility provides us with the flexibility we need to further optimise the asset for all of our stakeholders, and especially the residents and local community.”

Tristan Capital Partners were advised by BCLP.