Real Estate
Loan to London Building That WeWork Rents Is on Sale at Discount
- Bank of Ireland is selling £104 million loan provided to Hana
- The sale talks underscore London’s weak property market
No. 1 Poultry in the City of London.
Photographer: Luke MacGregor/BloombergThis article is for subscribers only.
A loan secured against a City of London office building mostly rented to WeWork is being sold at a discount.
The lender, Bank of Ireland Group Plc, is seeking bids for a £104 million ($130 million) loan to Hana Alternative Asset Management, the South Korean investment firm that owns No. 1 Poultry, people with knowledge of the process said. It appointed Eastdil Secured to advise on the sale, the people added, asking not to be identified as the process is private.