"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
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