British Land and Tesco extend JV

12th Apr 2011 08:20

The Tesco British Land Property Partnership, a 50:50 joint venture between property company British Land and retailer Tesco, has refinanced its Beaumont Leys Shopping Centre in Leicester.The new £60m five year term loan facility was used to repay the existing bank loan on its maturity and return funds to the partners. In conjunction with the refinancing, the joint venture was extended for a further 10 years.The Tesco British Land Property Partnership is one of five joint ventures between British Land and Tesco. The two parties jointly hold properties valued at £1.8bn. ---jh