Deutsche Pfandbriefbank has provided £81m to Harbert for the purchase of the Eastgate Shopping Centre in Inverness.
The loan, to a subsidiary of Harbert European Real Estate Fund IV, finances the near £120m purchase of the shopping centre in May this year. The asset was purchased by a joint venture between Harbert and Scoop Asset Management.
The loan represents close to 67% LTV on the original purchase price.
The 410,000 sq ft scheme is nearly 100% occupied and has planning permission for a 30,000 sq ft leisure extension.
