Eurohypo extends EUR 40m debt facility to Metric

German lender Eurohypo has provided a new £34.7 mln (EUR 39.5 mln) term financing to UK specialist retail real estate investment trust Metric Property Investments. The five-year facility is structured to support new investment opportunities and is secured against three of Metric's retail park assets.

This is the first secured term facility that Metric has put in place. The company listed on London Stock Exchange in March 2010.

Sue Ford, Finance director, Metric, said: 'We have been in dialogue with Eurohypo since the company was created and are very pleased that this has now come to fruition in the shape of this new facility. It was important to Metric that we had a funding partner that was familiar with the sector and understood our strategic plans for the both the assets and the business. Eurohypo has done this and we hope this is the start of a longstanding business relationship.'

Metric's portfolio of retail assets in the UK and one in North Ireland was valued at £192 mln at end-March 2011.