Pbb has financed Tristan Capital’s purchase of two regional retail parks with a £28m loan.
The assets, the Hylton Riverside retail park in Sundersland, Tyne & Wear, and Hatters Way retail park in Luton, Bedfordshire, were bought on behalf of the European Property Investors Special Opportunities 3.
The loan is a medium-term facility secured against the assets, which cover a total of 204,500 sq ft.
Tenants in the parks include Carpet Right, Matalan and Aldi.
Mark Terry, funds CFO at Tristan Capital Partners, said: “Financing is always a crucial element in our transactions, so it is important for Tristan that we work with lenders such as pbb that understand our business model and can react quickly and efficiently when the investment opportunities present themselves. Our successful partnership with pbb and Pradera on transactions across Europe once again proved itself in EPISO 3’s acquistions of Hatters Way and Hylton Riverside.”
mike.cobb@estatesgazette.com
