Refinancing of a commercial and residential portfolio around The Netherlands: €52.3 million to optimise financing structure, fund capex and acquisition costs.
A well-established Dutch property investor was looking to optimise the financing structure on their portfolio, which has been built up over a long time period and was funded by 6-7 different lenders. The portfolio included a large, balanced asset pool over several asset classes and with a multitude of tenants.
PolarReal’s assignment started with a bottom-up review of the entire business, including the group’s assets, strategy and long-term goals. Using the outcome of this strategic review, we discussed a variety of funding options and possible asset pools with our client before establishing the preferred routes and approaching the lenders.
Long term funding, attractive terms, a responsive lender
We were able to secure a stretched senior loan with attractive terms on a leverage level that was well above what traditional Dutch banks were willing to offer. The loan was put in place for an initial period of seven years. In addition to allowing the acquisition of some new assets at the refinancing moment, it also included a capex facility to fund redevelopment costs in the initial years.
PolarReal provides quarterly loan reporting to the lender on behalf of our client.
Residential, Office, Retail, Care & Logistics
Large amount of individual units & variety of asset classes, fiscal unity, some private ownership
Regional investor & developer
European debt fund