THE Goodman Group's £1.1 billion Arlington Business Parks Partnership has secured a five year extension and entered into a new five year £350 million banking facility.
The new banking facility has been secured with Royal Bank of Scotland, Eurohypo and Lloyds. In facilitating the extension of ABPP, PRUPIM has sought £48 million of liquidity which has been provided by two of ABPP’s existing investors.
Goodman CEO Greg Goodman said the extension will facilitate the prudent rollout of ABPP’s land bank to maximise investor returns.
“We are also delighted with the continued support of ABPP’s financiers RBS and Eurohypo and welcome Lloyds into the banking group,” he added.
Launched in 2003, ABPP is the largest collective investment vehicle for UK business parks.
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