Leeds Prime Office and Retail Asset, UK

Background and Opportunity

• Acquisition during the coronavirus pandemic of a city centre mixed use office and retail asset
• Limited competition for a sizeable regional UK deal
• Business plan to downsize and relocate certain tenants, regear and re-lease for long term income

Transaction Progress

• Secured attractive senior debt financing and closed the transaction in Q2 2021
• Completed design to improve common areas and roof terrace, and to increase and improve the flex office provision within the building

Current Status

• Active tenant engagement to right-size and retain long term occupancy
• Working with retail tenants to improve and increase their space as trading returns to pre-pandemic levels