Refinancing of Cisco Systems HQ, Thames Valley
Cisco Systems HQ, Thames Valley
Evans Randall returned to co-investors approximately 24% of their initial £27.9 million investment in the Cisco Systems European headquarters at Bedfont Lakes Business Park, Feltham, following a £153 million refinancing by HSH in February 2008, which provided an additional £7 million of senior facility. This followed an uplift in value from £162 million at the time of the original acquisition in July 2006 to £180 million approximately one year later.
Under the refinancing, investors received a repayment of a substantial proportion of their funds invested, but have continued to own the same proportion of the asset that was the case prior to the refinancing.