Home Land Securities

Land Securities

AEG and Crosstree Real Estate have appointed Eastdil Secured to find £185m to finance a designer outlet scheme at the O2 Arena in Greenwich, London. Debt brokers Eastdil has approached a number of lenders to secure the funding which could see up to 230,000 sq ft of retail space added to the events and leisure site.
Land Securities increased its debt by £470m to £3.8bn last year but an increase in portfolio valuation by £2bn to £14bn reduced its group LTV from 32.5% to 28.5%. The UK REIT said said in its annual report to 31 March 2015 that the result was consistent with its strategy at this stage in the property cycle of allowing gearing to decline as property values rise.

Copyright PEI Media

Not for publication, email or dissemination