Project MPrime final tranche
The final tranche of the MPrime loans was successfully drawn down in May 2021.
During the course of 2020, PolarReal has arranged the MPrime loans for a professional real estate investment firm based in Amsterdam. With a total financing volume of nearly €100 million, the financing is granted at attractive terms by a conservative German bank and is secured on a prime portfolio of mostly Amsterdam real estate and supermarkets in various locations.
The financing was split into 2 parts due to a number of considerations including asset types and acquisition timelines. Due to uncertainties caused by Covid-19 a relatively small tranche was initially withheld, to be released subject to certain conditions regarding letting progress.
Our client was (in spite of the Covid-19 situation) successful in leasing the remaining space within a short time. PolarReal has assisted our client and the lender in taking the necessary steps required to arrange the release of the final tranche.
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