"With this transaction completed, the company will continue to focus on further growth in 2002," Abbey says, adding that $50 million has been reserved for acquisitions in the coming year.
The Abbey Co. has financed the recent redemption through a combination of loans, including a mezzanine loan from Chicago-based lender Capri Capital Select LLC and first trust deed notes on some of the company's properties from Wachovia Securities, formerly First Union.
Rodamco formed a partnership with The Abbey Co. in late 1998, which was to provide the company with a presence in Southern California. However, Rodamco has recently begun divesting itself of its North American real estate holdings, including its interest in The Abbey Co.
For related news, click on: $5.3B Rodamco Deal Stalled by Dutch Court
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
