Billionaire Richard Caring and a consortium of investors are close to finalizing a £330 million loan to refinance and fund the construction of a luxury London residential property, Property Week reports. Deutsche Bank led a debt consortium to refinance a £300 million loan held by the Irish National Asset Management Agency (Nama) and secured against the former U.S. Navy headquarters in Grosvenor Square. Three senior lenders, Deutsche, Royal Bank of Scotland and United Overseas Bank of Singapore, have extended £230 million of debt to refinance Nama’s loan and provide construction finance for the project. Junior funding of £100 million has been provided by LaSalle Investment Management and hedge fund Safanad.
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