27th Nov 2013 12:11
LONDON (Alliance News) - ICG-Longbow Senior Secured UK Property Debt Investments Ltd Wednesday said it has completed its fourth transaction with a GBP7.2 million loan to a group of companies controlled by Richmond Trust.
The facility has a maturity date of November 2018 and is secured by a first and only charge on a mixed use portfolio of high street retail and tenanted residential units located predominately in London and the South east, ICG said.
The closed-end investment firm said the security portfolio comprises 15 properties with a diverse income stream from 39 retail and 57 residential tenants.
The largest tenants are Argos Distributors Ltd and Tesco Stores Ltd, accounting for 10.3% and 8.5% of total rent, respectively, it added.
The completion of this loan increases the total investments made to date to GBP57.5 million, representing 56.1% of available capital.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
Copyright © 2013 Alliance News Limited. All Rights Reserved.
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