Hammerson and Pimco Prime Real Estate have secured a €350m (£300m) refinancing on its 1.3m sq ft Dundrum town centre project.
The new loan, secured for up seven years, has been arranged with lenders Rothesay, BNP Paribas and Deka.
The new facility, together with funding of €220m from Hammerson and its joint venture partner Allianz, will refinance the €570m facility on the project, which matures next month.
The new term-loan is repayable on or before the maturity in September 2031 at an all-in interest cost expected to be 5.5%.
The 150-store Dundrum is 95% occupied and generates total passing rent of around €62m per annum.
Eastdil acted as lead arrangers; PIMCO Prime Real Estate acted on behalf of Allianz, Hammerson’s 50/50 joint venture partner on Dundrum.
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