Ardeshir Naghshineh’s Targetfollow has secured a £454m deal with Bank of Scotland Corporate.
The deal involves the funding of a portfolio of 10 UK properties, including Centre Point, the iconic, 32-storey tower in London's West End, and Baskerville House, a 195,007 sq ft office building in the convention quarter of Birmingham.
The finance package has been provided by the Bank of Scotland's Manchester-based team, which has been working closely with Targetfollow tailoring a funding package suited to its long-term strategic objectives.
‘This facility enables us to pursue further a strategy of expansion in the UK and continental Europe, where we have already acquired commercial and mixed use properties in France and Germany in the past 12 months and are in talks regarding other opportunities,’ said Naghshineh.
‘Our business philosophy has been to establish long-term relations with our tenants and increase the value of our portfolios by a direct, hands-on approach, which has proved very successful both here and overseas.’
Steven Atwell, director of Bank of Scotland Corporate Real Estate in Manchester said: ‘The portfolio offers an exciting opportunity to add real value through Targetfollow's involvement in a number of key regeneration projects in London, Birmingham, Norwich and Stockport.’
CB Richard Ellis acted for Targetfollow.