Cains has acted for both senior lender Cheyne Capital and mezzanine lender Crosstree Real Estate Partners for the development of Harcourt House, a listed building located on Cavendish Square, W1. Upon completion, Harcourt House, which falls within the Harley Street medical area, will comprise 25 residential apartments and a 19,000 sq. ft. private medical facility.
The deal structure comprised Cheyne Capital providing an £85 million senior loan and Crosstree Real Estate Partners providing a circa £35 million mezzanine loan.
Stephanie Chew acted for Cheyne Capital and Joel Taylor acted for Crosstree Real Estate Partners.