UK company Capital & Regional has completed the acquisition of The Waterside Shopping Centre in the cathedral city of Lincoln from clients of investment manager Prupim for £24.8 mln (EUR 29 mln). The transaction was first announced on 9 February.
UK company Capital & Regional has completed the acquisition of The Waterside Shopping Centre in the cathedral city of Lincoln from clients of investment manager Prupim for £24.8 mln (EUR 29 mln). The transaction was first announced on 9 February.
Capital & Regional used a new four-year £13.65 mln project facility arranged with Deutsche Postbank, together with existing cash resources, for the purchase.
Waterside will form part of a new 50:50 joint venture between Capital & Regional and Karoo Investment Fund II (Karoo), a Luxembourg investment fund. As Capital & Regional and Karoo have some common shareholders the Listing Rules require the Company to obtain shareholder consent for the sale of the 50% interest in the Waterside to Karoo to create the joint venture.
