Goodman Group (“Goodman” or “the Group”) is pleased to announce that the investors of the £1.1bn Arlington Business Parks Partnership (“ABPP”) have completed the five year extension and entered into a new five year £350m banking facility.
The extension of ABPP is for a five year term from June 2012. The strategy will focus on maximising the value of the underlying investment portfolio and unlocking the potential from its land bank.
In line with the extension of ABPP, a new five year £350m banking facility has been secured with RBS, Eurohypo and Lloyds. In facilitating the extension of ABPP, PRUPIM has sought £48m of liquidity which has been provided by two of ABPP’s existing investors.
Greg Goodman, Group CEO said “We are pleased to have participated in the extension of ABPP for a further five year term. It represents a portfolio of prime business park assets, underpinned by quality customers across a network of 26 well located parks. 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.”
For further information, please contact Goodman:
Group Chief Executive Officer
Tel +61 2 9230 7400