A prominent property investments firm has become the latest to offer a refinancing package for London’s tallest skyscraper, the Heron Tower, as part of a deal worth £250 million.

Starwood Capital, a US-based real estate firm, is in talks with Heron International, the firm behind the 46-storey London building, over providing a £250 million refinance for the flagship development in a deal underlining the emerging role of non-bank finance in the UK corporate landscape

It was reported in December 2012 that Starwood had raised £228.5 million thanks to initial public investment into its Starwood European Real Estate Finance fund.

Since then, the company have played an active role in the loan portfolio market, most recently being packed as a frontrunning bidder for NAMA’s non-performing loan portfolio, called Project Aspen, worth €810 million.

It was then announced this week that billionaire property investor Barry Sternlicht, who runs the private equity deal, had been in contact with representatives from Heron International to discuss the possibility of a £250 million refinancing deal.

Any such deal made for the Heron Tower project would be the group’s first in the UK, however.

The news comes shortly after the announcement that the Citigroup bank has also offered to refinance £300 million of debt used to construct the Heron Tower.

According to The Times, the bids are believed to have been among those from at least five institutions that approached business tycoon Gerald Ronson and the Arab consortium that sponsored the development of the commercial property.

The imposing office block was completed in 2011, developed using a £370 million loan from German banks Hypothekenbank and Landesbank Hessen-Thüringen, though only £300 million of the funds was used ultimately.

Lots within the building are currently only 60 per cent let, though it is hoped that business will continue to uptake the opportunities on offer.