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FINANCIAL NEWS
Abu Dhabi Capital Management secures USD2,062 m
04 Mar 2014
(MENAFN) Integrated Alternative Finance, a wholly owned subsidiary of Abu Dhabi Capital Management (ADCM), has secured as much as USD2,062 million to fund the acquisition of 1 Palace Street, London, according to the Emirates 24/7.
The funding process will be managed by Eastdil Secured, ADCM”s exclusive advisor.
Jassim Alseddiqi, Chief Executive Officer of IAF”s parent, ADCM, said: “This is a unique funding arrangement which complements the landmark nature of 1 Palace Street. Integrated Alternative Finance, in partnership with Eastdil, was able to secure the most appropriate lender with considerable expertise in the super prime Central London market. Its experience in negotiating appropriate terms and finalising this significant facility were integral to the success of the eventual funding.”
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