FINANCE: CBRE Global Investors has secured financing from DekaBank for its £130m purchase at Brindleyplace in Birmingham.
The fund manager bought 7, 8 and 10 Brindleyplace from Tritax on behalf of German pension fund VGV, taking a senior loan estimated at £84.5m which reflects a loan-to-value ratio of close to 65%.
The offices cover 295,000 sq ft and generate a rental income of around £7.5m per annum.
The properties also include 35 flats and a Sainsbury’s store.
When CBRE GI bought the buildings in January the deal was one of the largest outside London this cycle.
