M&G Investments has completed a deal to provide £140m of financing for Cosgrave Property Group’s Liberty shopping centre in Romford, Essex.
The five-year deal refinances the centre, let to tenants including BHS, Topshop, H&M, Next and Boots.
M&G will also lend £13m for the partial redevelopment of the site.
M&G’s director of real estate finance, Dan Riches, said: “The Liberty shopping centre is a prime retail pitch and has attracted leading tenants who provide stable income. The active management of the centre and potential partial redevelopment will enable it to continue attracting leading retailers with strong leases.
“The entire whole loan will be invested and held by funds managed by M&G.”
