London (January 20, 2020) — BentallGreenOak, on behalf of its fund, announced that it has provided acquisition and capital expenditure financing to support BC Partners Real Estate's purchase and repositioning of Wingate House, Soho. This transaction represents the inaugural investment by BC Partners Real Estate in their dedicated European real estate value-add fund.
Located on Shaftesbury Avenue in Soho, Wingate House is an iconic West End property totaling 70,000 sq. ft., comprising seven office floors, plus three floors of retail and leisure. The property is synonymous with the Curzon Soho cinema.
BC Partners Real Estate, alongside operating partner Seaforth Land, will be undertaking a comprehensive refurbishment and re-letting of the property.
Martin Sheridan, UK Debt Principal at BentallGreenOak said: "We are thrilled to have supported the BC Partners and Seaforth Land team in financing this exciting Soho project. The deal underscores our ability to finance complex mixed-use redevelopments for high quality sponsors, with sustainable business plans. We continue to have a strong conviction in the London office market having closed approximately £400M of transactions by value over the last 12 months".
Charles Tutt, Principal at BC Partners Real Estate added: "BC Partners Real Estate are delighted to be supported by BentallGreenOak on our first transaction. The refurbishment of this iconic building in Soho fits perfectly with our strategy of creating creative workspaces in vibrant neighbourhoods."'
Lesley Chen Davison, CIO at Seaforth Land added: "Seaforth Land is very pleased to be working in partnership with BC Partners and BentallGreenOak, two accomplished and globally recognised investment teams. Wingate House will benefit greatly from our collective vision for refurbishing and bringing back to life this historic mid-century office building".
BentallGreenOak is a leading, global real estate investment management advisor and a globally recognized provider of real estate services. BentallGreenOak serves the interests of more than 750 institutional clients with approximately $48 billion USD of assets under management (as of September 30, 2019) and expertise in the asset management of office, retail, industrial and multi-residential property across the globe. BentallGreenOak has offices in 24 cities across twelve countries with deep, local knowledge, experience, and extensive networks in the regions where we invest and manage real estate assets on behalf of our clients. BentallGreenOak is a part of SLC Management, which is the institutional alternatives and traditional asset management business of Sun Life.
The assets under management shown above include real estate equity and mortgage investments managed by the BentallGreenOak group of companies and their affiliates.
For more information, please visit www.bentallgreenoak.com
BC Partners is a leading international investment firm with over €23 billion of assets under management in private equity, private credit and real estate. Established in 1986, BC Partners has played an active role in developing the European buy-out market for three decades.
In 2018 the firm launched a fully integrated real estate investment platform focusing on pan-European opportunities.
For more information, please visit https://www.bcpartners.com/real-estate-strategy
Vice President, Corporate Communications
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