Orchard Street secures Deutsche Pfandbriefbank loan

Deutsche Pfandbriefbank has lent fund manager Orchard Street Investment Management £47.75m, secured against St Andrew’s Retail Park in Hull. The five-year loan reflects a 50% loan-to-value on the £95.55m purchase price. The 327,000 sq ft asset was bought from Threadneedle Investments in September. The purchase price implies a net initial yield of 6.1%.