German lender pbb Deutsche Pfandbriefbank has provided a £26 mln (EUR 30 mln) financing to support the acquisition of the Bolton Gate retail park in Bolton and Central Retail Park in Havant, Southampton.
German lender pbb Deutsche Pfandbriefbank has provided a £26 mln (EUR 30 mln) financing to support the acquisition of the Bolton Gate retail park in Bolton and Central Retail Park in Havant, Southampton.
The asset was acquired for the 'Investment Circle UK' mandate of UBS Global Asset Management. pbb acted as arranger, agent and sole lender on the facility.
The properties comprise modern retail parks: Bolton was built in 1998 and Havant in 2007. Both properties offer asset management opportunities with over 10 years unexpired on their respective leases.
Bernhard Scholz, management board member of pbb Deutsche Pfandbriefbank, said: 'The properties are well-let and the sponsor has exciting plans to further improve the assets in the future.'
