DLA Piper advises Carlyle on GBP155 million flexible office portfolio refinancing

DLA Piper has advised Carlyle on the refinancing of its portfolio of flexible office buildings around central London.

Operating under the brand, Uncommon, the portfolio consists of five well-located and connected, and carbon negative sites around the capital which offer flexible working spaces, meeting facilities and event spaces for businesses. The transaction consisted of a GBP120 million senior facility from Société Générale and a GBP35 million mezzanine facility from Deva Capital.

Bonnie Calnan (partner, Real Estate) and Toby Barker (partner, Finance), led a cross-border and multi-disciplinary team, including Xavier Guzman (partner, Finance), Richard Harbot (partner, Tax), Jonathan Powling (partner, Corporate), Lorna Edwards (legal director, Corporate), Hannah Cockayne (senior associate, Real Estate), Gemma Grunewald (senior associate, Tax) and Neil Thomas and Wing Tang (both senior associates, Finance).

Toby Barker commented: “Through the refinancing of the Uncommon sites, Carlyle Group will be able to further develop the brand with solutions and offerings which meet the everchanging needs of today’s workforce. The collaboration across our international and multi-disciplinary team was instrumental in navigating the complexities of the deal and underscores our commitment to supporting sustainable and innovative workspaces.”

Bonnie Calnan added: “It was a privilege to partner with Carlyle on such a significant transaction. Bringing together such a large and dedicated team from across our various offices was key to providing the seamless counsel for which our clients have become accustomed. We look forward to providing Carlyle with ongoing support that will help them achieve their boldest ambitions in the future.”