First Property Group PLC - UK property fund manager and investor - Reports €1.7 million loan has been obtained by E & S Estates Ltd of which it owns 89%. Says loan secured on a supermarket in Praga, a suburb of Warsaw, Poland worth €3.4 million, implying loan to value ratio of around 50%. Forecasts net income from property of €160,000, a return on equity of 9% annually. Notes group cash following this refinancing amounts to £8.5 million.

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