Tristan Capital Partners Provides £340M Refinancing for Goldman Sachs Alternatives and Edge Technologies' London Bridge Office Tower

Tristan Capital Partners' Tristan Income Plus Strategies 2 debt fund, known as TIPS Two, has provided a £340 million senior real estate debt facility to a joint venture between Goldman Sachs Asset Management and Edge Technologies to refinance and fund the remaining costs to complete EDGE London Bridge, a 275,000-square-foot office development adjacent to London Bridge station in central London, the firms announced July 14.

Deal Structure and TIPS Two Platform

The loan refinances an existing construction facility and covers remaining costs ahead of the project's practical completion. Tristan Capital Partners described the transaction as the seventh investment for TIPS Two and the largest single loan the TIPS platform has originated to date, reflecting the fund's capacity to structure large, complex financings for institutional sponsors.

"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," said Dan Pottorff, Head of Debt Investment at Tristan Capital Partners. "With construction substantially complete and strong early leasing momentum, this is a well-protected, income-led lending opportunity for our investors."

Asset Profile: EDGE London Bridge

EDGE London Bridge will provide approximately 275,000 square feet of office accommodation across 26 floors, with occupier amenity space, adjacent to London Bridge station — one of the UK's busiest National Rail hubs. The source notes that the London Bridge submarket has become a prime central London office location in its own right, with proximity to the City of London.

The development is targeting a range of sustainability certifications, including BREEAM Outstanding, WELL Platinum, WiredScore Platinum, NABERS UK 5.5 stars, and an EPC A rating. The scheme has been designed with an emphasis on whole-life carbon reduction and operational efficiency, with the aim of supporting lower occupier energy costs.

The asset secured its first occupier ahead of completion, signing an agreement for lease covering approximately 50,000 square feet on the building's upper floors. Tristan and the sponsors cited this early leasing activity as evidence of occupier demand for high-quality, ESG-compliant office space against a backdrop of constrained Grade A new-build supply in central London.

Sponsor Perspectives

Goldman Sachs Alternatives and Edge Technologies are joint venture partners in the development. EDGE London Bridge is described as Edge Technologies' first scheme to complete in the UK capital.

"We are pleased to secure this key refinancing and optimize the capital structure for Edge London Bridge, building on good early leasing momentum ahead of practical completion," said Richard Innes, Head of International Debt Capital Markets, Real Estate at Goldman Sachs Alternatives. "We are also very happy to be partnering with Tristan for this transaction, as we continue to expand and diversify our lender relationships across Europe."

Fons van Dorst, Executive Managing Director UK at Edge, said the announcement represents "a significant vote of confidence in the London office market and Edge's development and operational capabilities." Van Dorst added: "As our first scheme to complete in the capital, we're extremely proud to bring to market a project that sets the benchmark for sustainability as well as viability during an uncertain economy."

Sources: Tristan Capital Partners