REDD News: REDD Appointed to execute the Redevelopment of Mayfair Mixed-Use Property

We are pleased to announce that we are supporting North Wind Capital("NWC"), the multi-family investment office, on their recent acquisition of a landmark mixed-use Mayfair Property in Upper Grosvenor Street with an 18-month bridge loan from specialist lender, Cohort Capital. With our knowledge of the Mayfair area and our growing portfolio in Prime London, we have been appointed to execute the redevelopment business plan which we look forward to beginning.

Russell Smithers, CEO of REDD Real Estate commented: “We are excited to be joining with North Wind Capital in the redevelopment of this mixed-use property on Upper Grosvenor Street. It complements our existing and growing portfolio of work in the historic district of Mayfair, where we have a track record for delivering the highest standard. We look forward to bringing this building forward through the development process.”

Christian Mathews, Investment Director of NWC, commented: “This is a significant acquisition for NWC which provides a rare opportunity to revive a forgotten gem in the heart of Mayfair back to its former glory. This asset has incredible untapped potential and we look forward to working with our JV partner REDD to unlock that value in what we hope will be the first of several prime London redevelopment plays with our preferred developer.”

Mathews added: “Cohort Capital has been an excellent funding partner in this deal.  The speed of execution is testament to their understanding of real estate and shows there is returning liquidity in the prime short-term finance market for deals backed by credible sponsors with compelling business plans.”