The owner of the CityPoint tower is trying to negotiate a deal for a cash injection into its commercial property investment
According to CoStar UK, Beacon Capital Partners requires fresh equity for the skyscraper of City offices
due to interest payment shortfalls.
Up to £20 million is being sought by the organisation as the next payment looms on January 20th.
If a deal is not finalised by this date, the publication said Morgan Stanley Loan Servicing is expected to draw up a standstill agreement so a restructuring solution can be created.
It added that since MacQuarie Bank - one of the major tenants of the City offices
- partially left the 703,382 sq ft tower, a rental shortfall has occurred.
MacQuarie Bank is currently residing in 22,395 sq ft of space at CityPoint. It has offices in around 28 countries and has approximately 15,000 staff working for it.
Posted by Emma Davies
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