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Conygar secures £20m from Barclays Real Estate

22 Aug 2012 10:33 GMT

Barclays Real Estate has provided the Conygar Investment Company PLC with a £20m lending facility.

The funding package, secured on the nine properties of the Edinmore portfolio acquired in December 2011, enables Conygar to pursue further investment and development opportunities.

Conygar is an AIM quoted property investment and development group dealing primarily in UK property. The group aims to invest in property assets where they can add significant value using their property management, development and transaction structuring skills.

Commenting on the deal, Robert Ware, Chief Executive of Conygar commented: "We are pleased to secure early refinancing of our Edinmore acquisition which releases cash for use elsewhere in our business. The market for real estate debt remains tightly constrained so we are delighted that our long standing relationship with an active lender such as Barclays has been extended.”

Charles Conway, Director, Barclays Real Estate added; “Our existing relationship with Conygar and understanding of the business enabled us to deliver a financing solution to meet the group’s needs.”


About Barclays

Barclays is a major global financial services provider engaged in personal banking, credit cards, corporate and investment banking and wealth and investment management with an extensive international presence in Europe, the Americas, Africa and Asia.

With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs approximately 140,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website www.barclays.com.