High Wycombe's Eden Shopping Centre is successfully refinanced to the tune of £128 million

26-Mar-2009  |  Banking & Finance, Corporate, Real Estate

In a demonstration that despite current economic conditions substantial property finance deals can still be done, leading law firm Taylor Wessing LLP has successfully advised Brookfield Europe and Aldersgate Investments Limited (a Reuben Brothers subsidiary) on the £128m refinancing of High Wycombe's Eden retail centre. 

Under the terms of the new financing Helaba, Deutsche Postbank AG and Nationwide Building Society have provided a five-year debt facility that will mature in 2014.   The lenders were advised by Addleshaw Goddard.

The Eden Centre opened in Spring 2008 and is a 77,000-square-metre (825,000 sq. ft.) shopping centre that includes two anchor stores, 120 retail and restaurant units, cinema and bowling, as well as 48 residential units and a car park.

Real estate partner Keith Barnett and special counsel Scott Harrison, corporate real estate partner Paul Burke and finance partner Martin Yells led the Taylor Wessing team.  Martin comments:

"This is a high profile deal, if only because there are currently very few transactions of this size in the market involving lenders who are actually willing to provide genuine new debt finance, as opposed to existing lenders who have no real choice other than to extend or refinance existing loans.  We are pleased to have played an important role in securing the future of the Eden Centre".


Ends
 

Lawyers Keith Barnett, Scott Harrison, Martin Yells

 

Notes to editorsFor more information please contact Helen Needham at Taylor Wessing:Tel:      +44 (0)20 7300 4156Email:   h.needham@taylorwessing.comTaylor Wessing LLP is a leading law firm providing support for commercial organisations doing business in Europe, the Middle East and China.www.taylorwessing.com About Brookfield Asset ManagementBrookfield Asset Management Inc. is a global asset manager focused on property, power and other infrastructure assets with approximately US$80 billion of assets under management. In Europe, Brookfield has real estate and infrastructure operations engaged in Asset and Fund Management, Development, Construction, and Facilities Management.www.brookfieldeurope.com  About Reuben Brothers Reuben Brothers is a multi-billion pound corporation involved in real estate development and investment and private equity, both in the UK and overseas. www.reubenbrothers.com