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Lazari Investments Ltd’s purchase of The Brunswick Centre reaches financial close

Barclays has provided Lazari Investments Limited with a bilateral facility of £227 million for the acquisition of The Brunswick Centre in Bloomsbury, London. The new facility provided an additional £115m of debt alongside an existing Barclays loan to assist Lazari with the purchase, which has now completed.

The Brunswick Centre has enjoyed a long established history within Bloomsbury, with construction in the 1960s as a vision of respected architect Patrick Hodgkinson. It underwent further development in the late 1980s to create an example of an urban mixed use development, providing convenient residential units combined with spacious shopping and a hotspot for dining, all within easy reach of central London.

Len Lazari, Director at Lazari Investments, said: “We are absolutely delighted to have completed our acquisition of The Brunswick and we look forward to building upon the great work done by the previous owners. As well as focussing on tenant mix, we are also planning a series of improvements to the site, including the upgrading of communal areas and car park, the carrying out of extensive waterproofing measures, the addition of a design led first floor restaurant and enhancement of underutilised space. We very much appreciate the support provided to us by the Barclays team, who worked hard to deliver the financing in within a short timeframe. The vendor and their agents, Jones Lang LaSalle, were also very constructive in working with us to complete this transaction.”

Gregor Bamert, Managing Director and Head of Real Estate London at Barclays, said: “The Brunswick Centre is situated in one of London’s most dynamic and vibrant areas and is widely recognised for its distinctive design. We are delighted to have assisted our client in acquiring this landmark asset, through a process which required us to execute the deal from start to finish within four weeks. We remain committed to working closely with Lazari in the future as they execute their growth plans.”
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