Acquisition Finance/Stapled Financing

Project Clyde

€39.1 million ‘stapled financing’ arranged for the seller of a specialised asset and then transferred to the eventual buyer.

One of the largest Dutch real estate development firms needed a financing product to facilitate the sale of a specialised asset. Their goal was to arrange financing that could be transferred to an eventual buyer. The asset was in an ‘alternative asset class’ which has proven problematic for most potential buyers when it came to financing. Traditional banks were not willing to provide funding with attractive leverage.

Clyde 1

We have initially assisted the seller to put a financing structure in place that can be transferred to a suitable buyer. The seller was then able to agree terms with a potential buyer. PolarReal went on to assist both parties in completing the necessary steps that were previously agreed upon with the lender: thereby transferring the loan together with the asset to the new owner.

Stapled financing with attractive terms

A loan was successfully arranged with a European Senior Debt Fund. We assisted the seller with structuring the loan documentation in a way that made the change of ownership possible, subject to the standard KYC requirements of the lender being met

The lender was willing and able to understand the specific asset class and provided a loan with terms that made the eventual sale attractive to suitable buyers.

PolarReal provides quarterly loan reporting to the lender on behalf of our client.

Placement value

€39.1 million

Asset type

Sports facilities, Event space, Hotel, Offices, Retail

Main challenges

High leverage, specialised asset class, transferable loan


Leading Dutch developer & a Regional investor

Financing Type

Investment Loan/Stapled Finance


European debt fund

Delivery date



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