Developer plans to plough funds into capital projects
Developer Capital & Regional has completed a £350m refinancing it says will allow it to plough additional funds into capital projects.
The refinancing is of Capital & Regional’s Mall Fund, covering shopping centre assets across the UK.
Capital & Regional’s Mall Fund has entered into a new five-year secured bank facility comprising a £350m term loan and additional £25m capital expenditure facility.
Hugh Scott-Barrett, Chief Executive, said: “[This refinancing] has allowed us to establish a strong platform for growth by creating the flexibility for The Mall Fund to continue its programme of capital investment in order to create long term value, at a time when sentiment is improving in both the investment and tenant markets.”