Town Centre Securities (TCS) has announced that it has completed a refinancing of Merrion House in Leeds.
The Leeds-based property investor said it had received a cash injection of £26.4m after discussions with Leeds City Council (LCC).
The agreement will see LCC advance all base rent due from 1 October 2018 until the lease ends in 2043.
TCS will use the £26.4m immediately to reduce debt. It said the proceeds would also give it “more flexibility to invest in our acquisition and development pipeline for future growth”.
To send feedback, e-mail anna.ward@egi.co.uk or tweet @annaroxelana or @estatesgazette
