FINANCE: German lender Aareal Bank AG has made a £190.5m loan to Brockton Capital and Pradera against a UK retail warehouse portfolio.
The bank, which has already lent against two parks owned by the Brockton-Pradera joint venture, has provided additional debt to refinance six other parks in the portfolio, fund future acquisitions and provide capex for asset management.
Brockton and Pradera began their partnership in 2011.
Alex Wright, associate partner at Brockton Capital, said: “We have a strong working relationship with the team at Aareal, one that we value very much and are pleased to be able to build on further with this loan. Aareal have once again proved themselves to be proactive and able to deliver on what they say.”
sophia.furber@estatesgazette.com
