Eurohypo, pbb Deutsche Pfandbriefbank and BayernLB have announced that they have provided a £217m acquisition facility to Oxford Properties for the purchase of Green Park in Reading.
The transaction closed on 23 November 2011.
Eurohypo and pbb Deutsche Pfandbriefbank acted as joint arrangers, while Bayerische Landesbank joined as an original lender. Eurohypo is the agent to the facility and each lender is providing an equal share of the transaction.
Last month, Oxford Properties completed its acquisition of the 190-acre Green Park from Prupim for around £400m.
Michael Acratopulo, managing director, origination, Eurohypo, said: “We have been in detailed discussion with Oxford Properties in regard to it acquisition of Green Park, another flagship investment for its expanding European platform, for some months. We were committed to this transaction before our temporary lending suspension was announced and are pleased to have been able to provide Oxford with our continued support through to completion.”
Harin Thaker, head of real estate, finance international, at pbb Deutsche Pfandbriefbank added: “We are proud to have delivered Oxford Properties with a financing solution on one of the largest single asset acquisitions in the UK in 2011. Oxford Properties is one of our core clients and we were delighted to be able to offer our customers continued support.”
james.buckley@estatesgazette.com
