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 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 in anticipation of the end of lockdowns