Specialist property lender Leumi UK has provided a £38 mln (€43 mln) loan to Magnetar Capital, a US-based alternative asset manager, to refinance the purchase of two town centre shopping schemes in Perry Barr, near Birmingham, and Corby, Northamptonshire.
One Stop Shopping in Perry Barr is a 382,856 sq ft (35,500 m2) shopping centre and retail park, while Corby Town Centre & Willow Place measures 667,121 sq ft across the town centre shopping area, retail park, upcoming new sixth form college, office space and residential units.
Both assets are dominant in their catchments and have a diverse mix of tenants, dominated by essential and convenience-led tenants and including major national occupiers such as M&S, Argos, Home Bargains, TK Maxx, Pure Gym, KFC, Nike and JD Sports.
Magnetar is working with specialist operating partner Northdale Asset Management. Magnetar and Northdale previously partnered on the 2022 purchase of Yate Retail Shopping Center in Gloucestershire.
