Investment Finance

Project Mia

€13 million loan for modern office and industrial complex with flex-working services in Heerlen.

PolarReal has assisted C-Mill to refinance a plot of (125,109m2) with a complex of 9 buildings (43,457m2) in Heerlen, Zuid-Limburg, which C-Mill has successfully positioned in the area as a leading provider of flexible workspaces with services. Circa 100 different companies are housed in the venue with together more than 1,000 employees. One of the funds managed by Caerus Debt Investments AG was able to provide a loan that fit the specific operational structure and took into account the property’s long track record of stable, high occupancy.

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The 9 buildings form a complex of office and industrial spaces that are partly (roughly 50/50) leased on traditional market terms and as flexible lettings with additional services. The track record of the last 5 years shows that also the flexible tenants have low turnover and tend to stay for many years, which results in continued high occupancy and stable income.

Financing addressing current and future requirement

Working with Caerus Debt Investments AG, we have been able to structure a financing that recognises the value added by the successful operations over the years and also takes into account upcoming further investments and improvements by providing a Capex line for (among others) energy label improvements.

Placement value

€13 million

Asset type

Offices, Light Industrial

Main challenges

Partly flexible leases, large number of tenants


Local operator

Financing Type

Investment Loan


Caerus Debt Investments A.G. (German Debt Fund)

Delivery date

December 2021


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