£772m loan to R&F One (UK) Ltd, the UK subsidiary of Guangzhou R&F Properties, a leading Chinese developer. One Nine Elms will be one of the capital’s highest-quality developments, comprising two towers – a 57-storey City Tower, consisting of 334 for sale prime residential units, and a 42-storey River Tower. The River Tower will consist of a 203-room five-star Park Hyatt hotel and 103 Park Hyatt-branded luxury apartments that will exclusively benefit from all the hotel amenities, including a swimming pool, 24-hour concierge, sky lounge and terrace. This will be the first Park Hyatt Hotel in London and the first Park Hyatt-branded residences.
The project also includes 57 affordable housing units forward sold to Thames Valley Housing.
Completion for the project set for November 2023.
Precede Capital Partners originated the loan and arranged a blue-chip consortium of lenders including funds managed by Apollo Global Management, Carlyle’s global credit platform and Crosstree Real Estate Partners.