National Express rides to £8m refinancing deal
Investment management company WP Carey & Co has obtained an £8.3m loan facility to refinance National Express' Birmingham headquarters.
The company secured the funding from Barclays Real Estate to refinance the newly rebuilt headquarters and coach terminal in the city.
WP Carey is publicly traded on the New York Stock Exchange and manages a global investment portfolio of about $11.5bn (£6.9bn). The company provides long-term sale-leaseback and build-to-suit financing for companies worldwide.
Arvi Luoma, vice president of WP Carey, said the refinancing deal played a "critical role" in both National Express' operations and the UK's transport network as a whole.
He added: "As we continue to pursue our strategy of helping quality companies unlock the capital in their real estate, WP Carey is actively seeking sale-leaseback and build-to-suit opportunities throughout Europe and, consequently, we look forward to working with Barclays on other opportunities in the future."
