Hammerson plc R.E.I.T. (GB:HMSO) has released an update.
Hammerson plc, in partnership with PIMCO Prime Real Estate, has successfully refinanced a EUR 350 million loan secured on Dundrum Town Centre, a premier retail and lifestyle hub in Ireland. The new non-recourse loan, shared equally between the partners, aims to replace the existing facility due to mature in September 2024, with the new one extending to September 2031 at an approximate 5.5% interest cost. Dundrum Town Centre stands out as a high-occupancy, revenue-generating property, recently receiving an A++ rating, highlighting its stature as a super-prime European asset.
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