Ronson seals refinancing for Heron Tower

Kasmira Jefford
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PROPERTY tycoon Gerald Ronson’s Heron International is to keep the keys to the Heron Tower in the City after its owners yesterday completed a five-year £370m refinancing deal with Starwood Capital.

The US private equity firm is understood to have agreed to provide a £270m loan while the tower’s shareholders, including Ronson, the State General Reserve of Oman and members of the Saudi Royal Family, have agreed to inject £100m of fresh equity into the property.

The owners previously faced the threat of having to sell the iconic building to pay a £315m loan owed to banks led by Wells Fargo. previoinvestments