The RBS Real Estate Finance team in Scotland is providing a £39 mln (EUR 47 mln) funding facility to support the expansion of the fast-fit tyre business Kwik Fit in the UK. The lender agreed to provide the facility to GE Prem KF, a joint venture real estate investment vehicle owned jointly by GE Capital Real Estate Europe (75%) and Paradigm Real Estate Managers (25%).
The RBS Real Estate Finance team in Scotland is providing a £39 mln (EUR 47 mln) funding facility to support the expansion of the fast-fit tyre business Kwik Fit in the UK. The lender agreed to provide the facility to GE Prem KF, a joint venture real estate investment vehicle owned jointly by GE Capital Real Estate Europe (75%) and Paradigm Real Estate Managers (25%).
The new three-year facility has been put in place to support the management team, based in Glasgow, with their strategy to improve value and fund further development opportunities.
Japanese conglomerate ITOCHU acquired Kwik Fit, which operates 570 centres in the UK, in June 2011, and it intends to expand the brand across the country.
