In The News

Ropes & Gray Advises Saïd Holdings on £137.5m Canary Wharf Office Financing

Practices: Real Estate Investments & Transactions, Finance, Hedge Funds

Ropes & Gray has advised international investment company Saïd Holdings Limited on its £137.5m financing of 5 Churchill Place, a 320,000 sq ft office building in Canary Wharf, London.

Saïd Holdings Limited owns the long leasehold interest in the building, ten floors of which are let to J.P. Morgan Markets Limited until 2029.

The £137.5m senior loan was provided 50:50 by Bank of Ireland and Citibank, London Branch.

The transaction, which announced on 14 March 2017, also involved a corporate re-organisation of the Bermudan property holding structure.

The Ropes & Gray team was led by London real estate partner David Seymour, with assistance from real estate associates David Broome, Belinda Hill and Galena Dineva (all based in London); US hedge funds partner Leigh Fraser (Boston), and hedge funds counsel Anna Lawry (London)¸ based in London.