German lender pbb Deutsche Pfandbriefbank has provided 拢100 mln (鈧�125 mln) in financing for a UK regional shopping centre owned by business partners Patrick McKillen and Padraig Drayne as well as US-based private equity firm Colony Capital.
German lender pbb Deutsche Pfandbriefbank has provided 拢100 mln (鈧�125 mln) in financing for a UK regional shopping centre owned by business partners Patrick McKillen and Padraig Drayne as well as US-based private equity firm Colony Capital.
The facility is secured by the Frenchgate Shopping Centre in Doncaster, a recently refurbished regional shopping centre measuring 800,000 sq ft (74,300 m2).
The property, which is 95% occupied, features over 120 shops and underwent a major extension and refurbishment program in 2006.
The borrowers were advised by Eastdil Secured.
Charles Balch, head of real estate finance for the UK and CEE at pbb Deutsche Pfandbriefbank, said: 'The transaction represents a further expansion of the bank's portfolio secured on regional assets. It evidences pbb鈥檚 appetite to provide financing for assets outside London.'
