Capital & Regional, the co-investing property asset manager in the UK, has said it expects the open offer of units in the X-leisure fund will be fully subscribed and will raise £50 mln (EUR 59 mln).
Capital & Regional, the co-investing property asset manager in the UK, has said it expects the open offer of units in the X-leisure fund will be fully subscribed and will raise £50 mln (EUR 59 mln).
Capital & Regional - which owns a 19.4% stake in the fund and is the property asset manager - said the open offer announced earlier this month had generated a lot of interest among investors. Subscriptions, the company said, had been received from a wide spread of existing as well as new investors
Completion of the open offer, which is expected to take place at the end of July, remains subject to certain conditions including the negotiation of revised banking covenants with the fund's syndicate of banks. These negotiations are well progressed, Capital & Regional said.
