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QuotedData’s other news 18 November 2019

In QuotedData’s other news 18 November 2019 –

  • Real Estate Credit Investments (RECI) announced it had received a full repayment of a loan for a mixed-use development in Old Street, London. RECI participated pari passu alongside its manager’s other real estate funds, in a £87.5m mezzanine loan, at 47%-73% loan-to-cost (LTC) and 38-57% loan-to-gross-development-value (LTGDV) ranking behind a senior loan of £163m, giving an exit basis of £250m against a gross domestic value (GDV) of £433.5m.
  • Irish Residential Properties REIT (IRES) finalised the acquisition of 118 houses located in two suburbs in county Dublin (Balbriggan and Donabate) from a subsidiary of Glenveagh Properties PLc for €38.2m.

We also looked at three property stories this morning:  A £425m sale by Capital & Counties, interim results from McKay Securities and an acquisition in Leamington Spa by Real Estate Investors. Elsewhere, the Irish renewables company, Greencoat Renewables, acquired a 20.4MW wind farm.

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