GMG Real Estate has secured a £60m funding package from BentallGreenOak for the acquisition and refurbishment of Premier House.

The investment management firm is planning to undertake a significant refurbishment of Premier House.

JLL debt advisory secured the loan from BentalGreenOak for GMG Real Estate.

Martin Sheridan, UK debt principal at BentalGreenOak, commented: “BentallGreenOak is pleased to have supported GMG Real Estate on this exciting project. Repositioning Central London offices is central to our UK debt strategy and we look forward to working with the sponsor to help them achieve their business plan.”

David Barry, senior director at JLL debt, added: “We are delighted to have secured this package on such attractive terms from BentallGreenOak. The combined acquisition and refurbishment facilities enables the sponsor to redevelop Premier House in a timely basis in order to take advantage of the strong fundamentals of the Victoria office market. BentalGreenOak was proactive and commercial throughout the process and delivered the right solution for our client’s vision.”