Three properties from the collapsed ProInvest industrial portfolio have been sold.
Hudson Advisors, the special servicer to the loan secured against the portfolio, said today that it had sold: Windrush industrial park in Witney, Oxfordshire (pictured); Grove Mill in Eccleston, Chorley; and the Waverledge business park in Great Harwood, Lancashire.
The three properties have been sold for a total of £17m.
The Bacchus loan was put into special servicing in August 2009 after income from the portfolio became insufficient to meet quarterly debt repayments of £133,125 plus interest. A £1m reserve account to cover any shortfalls had been emptied by April.
The loan was packaged up with 18 other Credit Suisse loans in 2007 and securitised as part of a £778m CMBS.
The 1.8m sq ft portfolio is managed by DTZ.
samantha.mccclary@estatesgazette.com
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