British Land and Tesco refinance £318m joint venture | Online | Property Week
BLT Properties, a 50/50 partnership between the property company and the retailer, was provided a new £185m, seven-year loan by German bank BayernLB’s London branch.
The facility has been used to repay the venture’s existing bank loan. Now the refinancing is complete the joint venture has been extended for ten years – its second extension since it was formed in 1996.
BLT owns eight Tesco superstores and one Tesco-anchored retail park. It is one of five joint ventures between British Land and Tesco.
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