Yew Grove expands loan facility to EUR 39m
Updated : 15:23
Irish commercial property investor Yew Grove REIT has agreed a €9.9m increase to its three-year floating rate loan facility with Allied Irish Banks, it announced on Friday.
The AIM-traded real estate investment trust said the increase brought the total facility to €39m.
It said the facility was in place until December 2021, secured on certain of its properties, with interest charged on a margin over three-month Euribor.
“As noted in the company's investment policy, the facility will be used to part finance the company's acquisition of future properties, generating further income and potentially enhancing investment returns,” the board said in its statement.