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Second chance for Heron Tower

On 23rd September 2013 we reported on the potential need for the building known as Heron Tower, near Liverpool Street station, to be put into administration, in part because of its relatively low take-up of floor space since its construction. However, it would appear that the building’s future may be somewhat more secure than in recent weeks.  To keep receivership at bay, Starwood Capital, the US private equity group, has contributed to the refinancing of the building, in a deal worth £288m.