Acquisition and Capex Loan
CBRE Investment Management Credit Strategies Announces £36m Loan to Finance Edinburgh One
Edinburgh One, 60 Morrison Street, Edinburgh
In August 2021, CBRE Investment Management Credit Strategies provided an acquisition and refurbishment facility in excess of £36m to Odysseus Capital Management (OCM) to acquire 60 Morrison Street in Edinburgh, known as Edinburgh One, from Deka Immobilien Investment GmbH, and to facilitate OCM’s plans for the office.
OCM, through their Edinburgh based Architects CDA, submitted plans to turn Edinburgh One into an 85,000 sq ft best in class workplace, ahead of targeting new occupiers. The works include the addition of two new floors, a roof terrace offering panoramic views of the city and a new façade to completely change Edinburgh One’s profile and will be delivered mid-2023.
In OCM we have a highly capable sponsor who brings vast office redevelopment experience, in a market with extremely compelling dynamics; We believe that the Sponsor’s focus on strong ESG credentials, particularly in reducing the carbon intensity of the project, will deliver a best-in-class office asset that will be critical to attracting tenants to the completed scheme.