pbb Deutsche Pfandbriefbank has granted a £27.4 mln (EUR 32.8 mln) facility to AG Core Plus Realty Fund III and Quidnet Capital Partners for the acquisition of a shopping centre in London.
pbb Deutsche Pfandbriefbank has granted a £27.4 mln (EUR 32.8 mln) facility to AG Core Plus Realty Fund III and Quidnet Capital Partners for the acquisition of a shopping centre in London.
The German bank acted as arranger, agent and sole lender on the facility.
AG Core Plus is sponsored by Angelo, Gordon and Co. The asset, Treaty Shopping Centre in Hounslow, will be managed by Quidnet Capital Partners.
The financing is split into a £24.4 mln acquisition facility together with £3 mln for capital expenditure. The transaction closed in December 2011.
Treaty Shopping Centre was developed in the late 1980s and is the principal retail offer in Hounslow anchored by a three-storey Debenhams department store and a Wilkinson’s store. There are a further 50 retail units in the Centre together with a 700 space multi-storey car park.
