MGPA offers EUR 56m lifeline for Plantation Place

MGPA, a private equity real estate fund backed by Macquarie Group, has offered an emergency injection of EUR 56.7 mln (£45 mln) for the vehicle that owns Plantation Place, a City of London office complex. The vehicle, which is owned by Stobart, Tishman International and Invista Foundation Property Trust faces the prospect of defaulting on the loan used to buy the building for £527m in 2006, according to a report in the Financial Times on Friday.

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