Capital & Counties has received £150m as the latest tranche of payment for the sale of its stake in Earls Court, SW5, in November last year.
APG and Delancey bought Capco’s stake in the site for £425m, and a final payment of £15m is due to be received by Capco in November 2021.
The cash will be used by Capco to reduce borrowings under the Covent Garden revolving credit facility. Capco drew down £450m from the revolving credit facility to enable its investment in Shaftesbury.
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