Global law firm Eversheds has advised the bank funders, Santander and United Overseas Bank Limited, London Branch, in relation to the financing of a consortium of investors on the $450m development of a three hectare riverfront hotel-led site directly linked to The O2 Arena, on the Greenwich Peninsula, London.
The banks will part finance the joint venture’s construction of a 452-room luxury hotel, which will be one of Europe’s largest hotel conference centres with around 30,000 square foot of conference space, and 100 private residences in a 24 storey tower. Construction is expected to begin in the first quarter of 2013 with completion due in 2015.
The Eversheds team, led by real estate finance partner Simon Mead, provided real estate, banking and tax law advice.
Simon said:
“This was a high profile development scheme adjoining an iconic landmark. It is further evidence of our capabilities in delivering complex development financings, drawing on expertise in banking, real estate, corporate, tax and construction.”
