GIC’s £60m Chiswick Park loan
GIC, the sovereign wealth fund of Singapore, has agreed to provide a £60m junior loan for Blackstone’s £480m purchase of Chiswick Park in west London
GIC has provided the junior debt for the transaction as part of its new lending tie-up with Deutsche Bank, which is providing a £300m senior loan. The deal will complete early next week.
Deutsche is in discussions with ratings agencies about providing a rating for a commercial mortgage-backed securities (CMBS) issue of the loan.