pbb Deutsche Pfandbriefbank has provided a £100 million (€125 million) financing facility secured by the Frenchgate Shopping Centre in Doncaster ultimately owned by Patrick McKillen, Padraig Drayne and affiliates of Colony Capital, LLC. The transaction completed at the beginning of September 2014.
Frenchgate is a recently refurbished regional shopping center measuring approximately 800,000 ft² (74.322 m²). The property, which is 95% occupied, features over 120 known national and international retailers.
The center, which was subject to a major extension and refurbishment program completed in 2006, is well situated in the town’s prime retail pitch and is integrated with Doncaster’s main transport interchange. The borrower was advised by Eastdil Secured.
Charles Balch, Head of Real Estate Finance International, UK & CEE at pbb Deutsche Pfandbriefbank, said: “We are delighted to be providing this financing for this regional shopping center. The transaction represents further expansion of the Bank's portfolio secured on regional assets. It evidences pbb’s appetite to provide financing for assets outside London.”