ING and DekaBank provide €144m underwriting for prime Dublin building One Spencer Dock
ING Real Estate Finance and DekaBank have jointly underwritten a five year, €144m investment loan facility to support a fund advised by a London-based investment firm with the costs of acquiring One Spencer Dock, Dublin 1, which was acquired in July 2016.
ING acted as Facility Agent and Account Bank and provided €56m of the loan financing, with DekaBank providing €88m. One Spencer Dock is a 226,624 sq ft, Grade A office building, which is fully leased to PwC until April 2032 acting as their Irish headquarters. It was constructed in 2007.
ING Wholesale Banking’s Head of REF Western Europe, UK, USA, and Structured Products Mike Shields said: “The One Spencer Dock transaction in Dublin is a great property with excellent sponsorship – our two main boxes we need to check for any deal.”