Wiesbaden, London, 19 August 2014 - Aareal Bank AG (“Aareal”) has provided a £ 190.5 million facility to a joint venture between subsidiaries of Brockton Capital Fund II L.P. (”Brockton Capital”) and Pradera UK Limited (“Pradera”). Aareal, which is already a lender against two parks owned by the joint venture, has provided additional financing to refinance the other six parks within the existing portfolio, finance further acquisitions, and provide a capex tranche to facilitate Brockton Capital and Pradera’s active asset management plans for the portfolio.
Bill Redmond, General Manager, Aareal London Branch said: “We are delighted to be able to continue to expand and deepen our relationship with both Brockton and Pradera, two very experienced and highly regarded real estate investors.”
Alex Wright, Associate Partner at Brockton Capital LLP said: “We have a strong working relationship with the team at Aareal, one that we value very much and are pleased to be able to build on further with this loan. Aareal have once again proved themselves to be pro-active and able to deliver on what they say.”
