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AGL advises AREA Property Partners on Junction Fund investment
26 May 2009
AGL have advised AREA Property Partners on their investment of £50m in The Junction retail warehouse fund.
AGL have advised AREA Property Partners on their investment of £50m in The Junction retail warehouse fund.
The investment was made as part of the Junction’s equity issue, which raised around £65 million in total. Existing investors including Aviva, Hermes and Capital & Regional subscribed for the balance of the new equity. As part of the transaction, the fund’s banking facility was renegotiated and the fund’s life extended.
"Our involvement in this major deal highlights AGL’s ability to stay close to major funding deals," comments Mike Biddle, AGL Managing Director.
The Junction fund is one of the UK's leading investors in retail parks and a recognised specialist in this sector of the market.
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