pbb Deutsche Pfandbriefbank has provided an approx. €56.6 mln loan facility to an SPV sponsored by 90 North Real Estate Partners LLP to assist with their acquisition of the Drakehouse Retail Park in Sheffield. The transaction completed in April 2015.
Drakehouse is Sheffield’s largest retail park. It is fully occupied by a strong roster of tenants offering a diversified offering, making it a popular destination with shoppers from the property’s large catchment area. Key tenant names include Homebase, B&M Retail, Wickes, JD Sports, Currys, Harveys, Halfords, Pets at Home, Sports Direct, Carpetright and others.
Charles Balch, Head of Real Estate Finance International, UK & CEE at pbb Deutsche Pfandbriefbank, said: “We are delighted to have concluded a further fi-nancing with 90 North and our first together in the UK. We look forward to building on this moving forward. This financing further demonstrates our appetite to finance assets across the UK.”
Source: pbb Deutsche Pfandbriefbank