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LONDON-The Equiton Industrial Partnership, the limited partnership made up of Brixton, Equitable Life and the Prudential’s Edger Investments has raised a £90 million ($130 million) syndicated facility from HSBC; Lloyds TSB Bank and Royal Bank of Scotland.

The facility is for 5 years, secured on the assets of Equiton with a maximum loan-to-value ratio of 60%. The proceeds will be used to refinance the existing assets and to provide Equiton with the capacity to acquire new properties. The maximum loan-to-value ratio under the facility is 60%.

Brixton’s Deputy Chief Executive Steven Owen said Equiton’s objective was to double the size of its portfolio over the next twelve to 18 months from the current level of circa £110 million ($160 million). ‘Gearing the portfolio should also further augment the returns to the limited partners,’ he said.

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