FKS Capital Partners, a boutique structured finance and principal investments firm, has secured an £11.2million funding package from NatWest to refinance one of its London real estate assets.
The multi-let Fitzrovia office block, known as FKS House on Newman Street, will be refinanced to release funds for new investment opportunities.
FKS Capital Partners acquired the building in 2013 and the company’s London team of eight staff occupy the top floor of the building. The remaining six floors are let to nine tenants, with ground floor retail units recently becoming available to rent.
The office space is fully let and the company is considering future plans to alter the internal layout and increase the floor space at FKS House from 19,000 sq. ft. to 27,792 sq. ft., while retaining the Victorian facade.
FKS Capital Partners was founded in 2013 by Fawzi Kyriakos-Saad, the former CEO of Credit Suisse Group for Europe, the Middle East and Africa. The global team is located across the UK, US and Lebanon and specialises in global real estate, financial markets and distressed credit.
Fawzi is also the owner of a peer-to-peer lending platform, Leap Lending, located at the Newman Street offices. The company, formerly known as QuidCycle, will rebrand imminently and move its business banking to NatWest following the extensive support Fawzi and his team received for FKS Capital Partners.
Fawzi said: “Since FKS Capital Partners was founded and we acquired FKS House, NatWest has supported us with essential funding and the most recent finance will facilitate further growth as we look for new investment opportunities to add to our diverse portfolio. The support and flexibility NatWest has offered made them the obvious bank of choice for Leap Lending too.”
Sebastian Walley, Director of Real Estate Finance at NatWest, said: “FKS Capital Partners has been a customer since 2014 and we have seen the company go from strength to strength. The funds released from the refinance will allow Fawzi and his team to target new opportunities. As peer-to-peer lending continues to evolve as a sector, we are also looking forward to supporting Leap Lending.”
