Cain International

16th January 2024

Cain secures £188M refinancing for The Stage from Macquarie Capital

London, 16 January 2024: Cain International (‘Cain’), the privately held investment firm, alongside McCourt Partners, Galliard Homes, Vanke, and Investec has secured a £188M refinancing for the residential component of The Stage, a landmark mixed-use development in the heart of Shoreditch, entirely from the balance sheet of Macquarie Capital.

Situated on the site of Shakespeare’s historic Curtain Theatre, the 37-storey residential tower comprises 412 apartments, a luxury sky terrace, a state-of-the-art underground amusement arcade and benefits from a vibrant array of lifestyle amenities.

Last year, Cain announced the appointment of world-renowned creative studio, Bompas and Parr to deliver the Museum of Shoreditch, which will sit at the centre of the development, in collaboration with Museum of London Archaeology (MOLA) and Historic England. The site also includes two office buildings and over 60,000 sq. ft. of retail and leisure space.

JLL’s Debt and Structured Finance team advised Cain on the transaction.

Jonathan Goldstein, Chief Executive Officer, Cain International, said: “This new agreement with Macquarie Capital is a strong endorsement of the quality and unique appeal of The Stage’s residential offer, as well as the ongoing resilience of premium residential developments that are well-located in popular urban centres. While the past few years have brought about significant changes in how we occupy and value different types of real estate, the appetite of leading global investors for dynamic investment opportunities has remained strong and we look forward to continuing our strategy for The Stage with Macquarie Capital.”

Claudio Sgobba, Senior Director, JLL Debt and Structured Finance said: “We are pleased to have advised the Cain led sponsorship in navigating a complex refinancing and grateful to Baptiste Boye-Møller, Alexi Antolovich, and Sam Harvey of Macquarie Capital Principal Finance for their financing support”.

Alexi Antolovich, Global Co-Head Real Estate, Macquarie Capital Principal Finance said: “We are pleased to have worked alongside Cain and the wider investment consortium to provide a tailored financing solution for this high-quality residential development.”

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