Ærium, a European real estate fund manager, has announced the refinancing of its Turkish retail portfolio, Bainbridge Capital Retail Properties through a $240 mln (EUR 186 mln) debt facility with Akbank. Describing the transaction as the first sizeable refinancing in Turkey since the onslaught of the global economic crisis, Ærium said it had now secured capital for extension and redevelopment works on its Turkish shopping centres.
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