Overview
Tritax Big Box REIT has refinanced two recent acquisitions – the Marks & Spencer East Midlands Distribution Centre at Castle Donington, Leicestershire and the Tesco Distribution Centre at Southmead Industrial Estate, Didcot. Barclays Bank is providing loans of £49.3m and £12.2m respectively, secured individually on the assets. They are paying slightly more for the M&S centre financing as the leverage on that deal is higher – LIBOR+200bp for an LTV ratio of 59% on that one and LIBOR+185bp for an LTV ratio of 45% on the other.