German financiers Helaba Landesbank Hessen-Thüringen and Berlin Hyp, together with Oxford Properties Group, have successfully co-arranged a medium-term debt financing facility for Watermark Place in the City of London, amounting to an initial GBP 140 mln (EUR 168.4 mln).

The landmark office development was completed in 2009 and comprises 46,451 m2 of high-quality office space situated on the north bank of the Thames. The building is entirely let to Nomura and represents Nomura's European headquarters.

The transaction was closed in December 2010. In a press release, the financiers said the financing facility highlighted their confidence and long-term commitment to the UK property market and 'evidence for continuing liquidity in property financing, especially from German banks'.

Both banks acted as underwriters via their London branches with Helaba as agent. In addition to that, Helaba and Landesbank Berlin AG also provided a tailor-made hedging structure.

Oxford Properties Group is the real estate arm of the Omers Worldwide Group of Companies and one of North America’s largest commercial real estate investment, development and management firms. Oxford oversees and manages approximately C$16 bn (EUR 12.5 bn) of real estate for itself and on behalf of its co-owners and investment partners.

Helaba and Berlin Hyp both rank among the most active German financiers in Europe. Last year, they ranked third and fifth respectively in the PropertyEU ranking of leading German financiers in terms of new loan production for 2009.