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323 Castlereagh Street

Sydney, NSW

Cliffbrook originated and structured a $256 million uni-tranche debt facility for LaSalle Investment Management’s Asia Opportunity V Fund to finance their acquisition of 323 Castlereagh Street, a B Grade office building located in Sydney’s southern CBD. The financing comprised a $211 million term facility and $44 million capex facility. LaSalle intends to transform and reposition the office building into an A Grade tower and improve the office building’s lease profile and yield.

Cliffbrook closed the 323 Castlereagh Street financing within 8 weeks of receiving initial information on the asset.

Cliffbrook Capital Role
Loan origination, negotiation of commercial terms, managing loan documentation and due diligence, and ongoing asset management of the loan facility.

Closed

Dec 2019

Capital Amount

$256 m

Capital Type

Debt

Term

5 Years

Gearing

65 %

323 Castlereagh Street

Sydney, NSW

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151 Pirie Street

Adelaide, SA

Cliffbrook originated a $65 million senior debt and capex financing for Blackrock’s Asia Property Fund V to acquire 151 Pirie Street, an A grade office building in Adelaide’s CBD. The debt comprised a $60 million term facility and $5 million capex facility, that will finance capital works to enhance the amenity of the office building and its tenants as well as future leasing incentives.

Cliffbrook provided committed funds for the 151 Pirie Street financing within 4 weeks of receiving initial information on the asset.

Cliffbrook Capital Role
Loan origination, debt structuring and negotiation of key commercial terms and loan documents.

Closed

Dec 2019

Capital Amount

$65 m

Capital Type

Debt

Term

5 Years

Gearing

70 %

151 Pirie Street

Adelaide, SA

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60 Margaret Street

Sydney, NSW

Cliffbrook originated and structured a $336 million senior debt facility for Blackstone’s Real Estate Partners Asia II Fund to finance their acquisition of a 50% interest in 60 Margaret Street – a 40,481 sqm A grade Sydney CBD office building – and in the MetCentre – a 6,500 sqm shopping centre connected to Wynyard Station.

Cliffbrook signed financing documents for the 60 Margaret Street financing within 6 weeks of receiving initial information on the asset.

Cliffbrook Capital Role
Loan origination, developed innovative financing structure, managed loan documentation and due diligence, and ongoing asset management of the loan facility.

Closed

Apr 2019

Capital Amount

$336 m

Capital Type

Debt

Term

4 Years

Gearing

75 %

60 Margaret Street

Sydney, NSW

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