JTC Group has provided structuring and financial administration services in relation to a £320 million development financing deal in London.
JTC’s client, City Pride, invests in prime London real estate and the project relates to the Landmark Pinnacle, set to be the tallest consented residential tower in Europe. JTC worked on the deal with law firm Taylor Wessing, which acted for City Pride on the facility agreement.
The Landmark Pinnacle, a 75-storey residential tower on the Isle of Dogs, will comprise a combination of 914 serviced and residential apartments up to level 74 of the building. There will also be private amenity space for residents on levels 27 and 56 and a rooftop terrace at level 75.
Sarah Clark, Group Director at JTC, said: "This transaction is evidence that the fundamentals for the right assets remain strong and there are still good deals to be done."
The JTC team also included Senior Director Tim Knight and Associate Director Carlo Martinengo, all from JTC’s Institutional Client Services division.
The Taylor Wessing team was led by Real Estate Partner Paul Lawrence and was supported by Partners Martin Yells and David Quinlan, Senior Associates Jane Hilton, Owen Spencer and Nada Jarnaz, and Associate Andrew Wood.