Legal & General completes financing on One and Two Southbank Place

"We are delighted to support Almacantar with an investment loan secured on One and Two Southbank Place. Almacantar has a strong track record in delivering high quality buildings across London and this transaction is a great fit for our pension fund capital."

"This transaction, our largest UK real estate debt deal, provides diversity for our portfolio of investments backing our pension commitments. These buildings also both enhance the local area and enable the provision of a modern working environment.

This further demonstrates the powerful combined benefit of our in-house real estate lending capability in LGIM and our ability to deploy at scale, enabling us to deliver bespoke funding transactions."

"We are delighted with this deal and the shared confidence that LGIM Real Assets and Almacantar have in One and Two Southbank Place. It was always our ambition to create a world class business destination. It is extremely satisfying that LGIM Real Assets, a global leader in investment, shares our view. It reinforces our long-held belief in London’s resilience and our confidence in the capital’s prime property market, at a time of short-term political uncertainties. The completion of the refinancing places us in strong position to explore further commercial and residential opportunities in London."