Barclays Real Estate has provided the Conygar Investment Company PLC with a £20 million (approx. 25 million) lending facility.
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The funding package, secured on the nine properties of the Edinmore portfolio acquired in December 2011, enables Conygar to pursue further investment and development opportunities.
Conygar is an AIM quoted property investment and development group dealing primarily in UK property. The group aims to invest in property assets where they can add significant value using their property management, development and transaction structuring skills.
Commenting on the deal, Robert Ware, Chief Executive of Conygar commented: "We are pleased to secure early refinancing of our Edinmore acquisition which releases cash for use elsewhere in our business and we're delighted that our long standing relationship with an active lender such as Barclays has been extended."
Charles Conway, Director, Barclays Real Estate added: "Our existing relationship with Conygar and understanding of the business enabled us to deliver a financing solution to meet the group's needs."
Source: Barclays
