The 36-month facility includes capex funding to introduce an indoor climbing facility to the dockside site, alongside the fit-out of a number of waterside units in preparation for incoming tenants.
Westbrooke worked closely with debt advisor Five Fields Finance to solve the borrower needs, including adding various layers of flexibility to enable the client to execute their plan over the next 18 months.
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Commenting on the deal, Harry Newall, head of origination at Westbrooke said: “The Dockside Outlet Centre houses a multisector tenant base, including healthcare, childcare, and public sector elements alongside its retail majority.
“The asset’s tenant base has been well managed throughout the borrower’s 11 years of ownership, and has adapted to the major changes in retail over the past decade.”
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