The London office of German lender WestImmo announced on Tuesday that it has arranged and underwritten three acquisition loans in the UK and Continental Europe recently. 'In addition to WestImmo's strategy of medium to large scale debt arrangement, the London branch continues to provide clients with tailored bilateral solutions across Europe,' the lender said.
The London office of German lender WestImmo announced on Tuesday that it has arranged and underwritten three acquisition loans in the UK and Continental Europe recently. 'In addition to WestImmo's strategy of medium to large scale debt arrangement, the London branch continues to provide clients with tailored bilateral solutions across Europe,' the lender said.
In recent weeks it provided EUR 31 mln to assist in the purchase by Resolution Properties of the Galeria Pomorska shopping centre in Bydgoszcz, Poland. The asset is a modern retail scheme with over 100 shop units built in 2003.
Westimmo also provided £32 mln to support the acquisition by Rockspring Property Investment of two shopping centres in Aberdeen and Blaydon, UK. The Mall Shopping Centre (Aberdeen) comprises 190,000 sq ft of retail accommodation with 24 retail units while the Precinct (Blaydon) comprises of 47 retail units (93,200 sq ft) and four small office suites (3,300 sq ft).
The third transaction involved a £23 mln facility for the purchase by a private overseas investor of 15/17 Long Acre, part retail (18,406 sq ft) / part office (24,121 sq ft) building in the Covent Garden area of London.
Peter Denton, Head of Westimmo´s London branch said 'It is as important for the bank to bilaterally support our UK investor base across Europe as it is to take core roles in larger transactions. Our activities over recent weeks underpin this.'
