Russell-Cooke’s real estate planning & construction team has advised ultra-urban developer Bloom on securing a £93m debt facility for its central London joint venture with US private equity firm Angelo Gordon. The £93m debt financing comes from real estate investment firm Nuveen Real Estate.
The debt facility will enable Bloom to develop assets in Brixton, Greenwich, Hackney, Fulham, Camberwell and Park Royal. The assets consist of a mix of extensive refurbishment and ground-up redevelopment projects with a total floor-space of 206,000 sq ft.
In 2021 Russell-Cooke acted for Bloom Real Estate on the acquisition of the first purchases in its £250 million ‘ultra-urban’ warehouse joint venture with Angelo Gordon. Angelo Gordon is a privately-held alternative investment firm which focuses primarily on credit and real estate strategies.
The Russell-Cooke team was led by real estate partner Neil Dryer and associate Chloe Wilson, assisted by senior associates Katie Cooper, Lucy Nichol and Will Bond plus associates Aleena Shah, Rohan Bhasin and Philip Lardner, with partner Alex Ground leading on planning.
Bloom partner and co-founder Tom Davies says: “We are pleased with our maiden acquisitions for our new ‘ultra-urban’ warehouse platform. It has been great to have Neil and the Russell-Cooke team by our sides for these transactions – their commerciality and straight-talking approach is always helpful.”
Bloom is an innovative challenger real estate company with big ideas. Being a part of this JV and their first major investments has been inspiring and we are very much looking forward to joining them on the rest of this journey.
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