Capital & Regional has today completed the acquisition of the Waterside Shopping Centre in Lincoln from clients of PRUPIM for £24.8m.
In a stock market announcement C&R said it had completed the acquisition via a new four year £13.65m project facility arranged with Deutsche PostBank, together with existing cash resources.
C&R proposes that Waterside will form part of a new 50:50 joint venture with Karoo Investment Fund II (Karoo), a Luxembourg investment Fund.
Listing rules require C&R to obtain shareholder consent for the sale of the 50% interest in the Waterside to Karoo to create the joint venture.
paul.norman@estatesgazette.com
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