Tristan Lends Goldman And Edge JV £340M To Complete London Office
Tristan Capital Partners has provided £340M in senior real estate debt to a joint venture between Goldman Sachs Alternatives and Edge Technologies to refinance the existing construction facility and fund the remaining costs to complete Edge London Bridge.
Edge London Bridge is a 275K SF, 26-floor office development which sits adjacent to London Bridge station and has secured a pre-let for approximately 50K SF on the building’s upper floors from artificial intelligence firm ServiceNow.
The transaction is the seventh investment for the Tristan Income Plus Strategies 2 Income Plus Real Estate Debt Fund and the largest single loan the TIPS platform has originated to date.
The building is targeting BREEAM Outstanding, WELL Platinum, WiredScore Platinum, NABERS UK 5.5 stars and an energy performance certificate A rating.
The scheme occupies a prominent site at 60 St Thomas Street, immediately opposite The Shard and within one of London's busiest transport hubs. Originally acquired by Goldman Sachs Alternatives and Amsterdam-based developer Edge Technologies in 2022, the project involved the redevelopment and extension of a former office building into a new Grade A workplace. Practical completion is expected later this year.
The development will provide large, flexible floor plates alongside amenities including terraces, cycle facilities, wellness spaces and hospitality-focused communal areas.
"Edge London Bridge is the kind of asset the TIPS Two strategy is built to finance — a best-in-class, highly sustainable building in a supply-constrained central London submarket, backed by an institutional sponsor with the proven capability to deliver it," Tristan Capital Partners Head of Debt Investment Dan Pottorff said in a statement.
"With construction substantially complete and strong early leasing momentum, this is a well-protected, income-led lending opportunity for our investors."
For Tristan, the financing continues the expansion of its real estate debt business, which has become an increasingly important part of the firm's investment platform alongside its value-add and core-plus equity strategies. The TIPS series focuses on senior loans secured against institutional-quality real estate across Europe, with an emphasis on assets capable of generating stable long-term income once completed or repositioned.
Edge Technologies, meanwhile, has built a portfolio of high-profile office developments across Europe centred on environmentally focused workplaces. The company has delivered schemes in Amsterdam and Berlin and has since expanded into London.
