Oxford Properties, the real estate arm of the Canadian pension giant OMERS, has secured a £217 mln (EUR 253 mln) facility for the acquisition of Green Park business park in the UK city of Reading. The facility was provided by German lenders Eurohypo, pbb Deutsche Pfandbriefbank and Bayerische Landesbank.

Oxford Properties completed the acquisition of Green Park for around £400 mln last month. The vendor was investment manager Prupim.

The financing transaction closed on 23 November 2011. Eurohypo and pbb Deutsche Pfandbriefbank acted as joint arrangers while Bayerische Landesbank joined as an original lender. Eurohypo is the agent to the facility and each lender is providing an equal share of the transaction.

Michael Acratopulo, managing director, Origination, Eurohypo, commented: 'We have been in detailed discussion with Oxford Properties in regard of their acquisition of Green Park, another flagship investment for their expanding European platform, for some months. We were committed to this transaction before our temporary lending suspension was announced and are pleased to have been able to provide Oxford our continued support through to completion.'

Commerzbank, which owns Eurohypo, has suspended new lending by the property financier until June.

Harin Thaker, head of Real Estate Finance International, pbb Deutsche Pfandbriefbank added: 'We are proud to have delivered Oxford Properties with a financing solution on one of the largest single asset acquisitions in the UK in 2011. Oxford Properties is one of our core clients and we were delighted to be able to offer our customers continued support.'