Eldridge Real Estate Credit has provided an investment loan to finance The Notting Hill Gate Estate, a fully-let, mixed-use portfolio located in London Zone 1.
The sponsor is London based private equity group Mago Capital, with Brotherton Real Estate acting as capital adviser to the transaction.
The deal takes Mago Capital’s holdings in London to around £500m.
Mago is targeting to make a further £1bn of acquisitions in the UK over the next 12 to 18 months.
The two-building estate comprises over 144,000 square feet of Grade A office and prime retail space across the North and South Blocks.
The properties are anchored by a diverse roster of 29 tenants, including Blackstone’s FORA, OVO Energy, Marks & Spencer, Tesco, Waitrose, McDonald’s, Pret A Manger, and Blank Street.
Located opposite the Notting Hill Gate Underground Station and near Kensington Palace Gardens, the estate provides strong connectivity into central London at one of the city’s most prestigious addresses.
Nikos Yerolemou-Ennsgraber, senior director at Eldridge Capital Management, said: “As Eldridge continues to expand and diversify its lending platform, we are pleased to support Mago Capital with a flexible facility that enables them to execute their business plans.
“We are grateful to Brotherton for introducing our team to Mago Capital, and for their partnership and collaboration throughout this transaction.”
Tanya Wolfe, managing director at Brotherton Real Estate, added: “Notting Hill Gate is a thriving, high-footfall location that continues to attract leading office and retail occupiers.
“We continue to see strong lender appetite for well-located and high quality income producing assets.
“This financing reflects Eldridge’s commitment to delivering tailored capital solutions across competitive markets.”
