Macfarlanes advises as ING backs Mulberry Flagship store with £108.9m loan

16 December 2016

ING Real Estate Finance has solely underwritten a five year investment loan facility secured against the £198m purchase of Mulberry’s flagship store on New Bond Street by Oxford Properties, Richemont and Crown Acquisitions.

The loan, secured against the property at 47-50 New Bond Street, represents a loan to value ratio of 55 per cent and is the largest transaction on Bond Street since June 2014.  ING acted as mandated lead arranger, facility agent, hedge counterparty and account bank, and is in the process of syndicating a portion of the loan financing.

The Macfarlanes team was led by banking and finance partner Jat Bains, with real estate partner Clare Breeze.  Banking and finance senior lawyer Laura Innes and solicitor Sarah Jelly and real estate solicitor Rachael Ashton also advised on this transaction. 

Jat Bains comments: “Having advised when ING funded Bond Street House in 2014, we were very pleased to assist in their funding of another high profile asset in the retail heart of the West End.”