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LONDON, Oct 7 (Reuters) - U.S. private equity group Starwood Capital has provided a 288 million pound ($463 million) refinancing facility to London's Heron Tower, saving the 46-storey skyscraper from the threat of receivership and a possible sale.
Bank lenders to the tower, which has struggled to fill up its floors amid London's weak office lettings market, had been frustrated by its owners inability to agree on a refinancing of a 315 million pound loan despite several months of negotiations.
Starwood European Real Estate Finance
The Heron Tower is owned by a trust that includes developer Heron International, helmed by property entrepreneur Gerald Ronson, Oman's largest sovereign wealth fund and Saudi investors.
A source familiar with the situation said the shareholders had agreed to inject 100 million pounds on top of the Starwood refinancing, which meant that the tower did not need to be sold to repay its debts to banks which included Wells Fargo
A deal had been needed because the Heron Tower, close to Liverpool Street railway station in the City financial district, has not let as quickly as planned with 41 percent of office space still unoccupied since it opned in 2011. ($1 = 0.6221 British pounds)
(Reporting by Brenda Goh; editing by Kate Holton)
((brenda.goh@thomsonreuters.com)(+44 020 7542 2230)(Reuters Messaging: brenda.goh.thomsonreuters.com@reuters.net))
Keywords: BRITAIN HERON/SALE



















