Värde Partners has provided a SEK1.7bn (€150m) loan to a subsidiary of Swedish real estate company Titania Holding to refinance three of its multifamily properties.
Värde said the loan will be used to refinance the newly built Byamannen 2, Topasen 3 and Bjurbäcken 11 properties in Stockholm. The financing is structured in three tranches, with Titania drawing the first SEK1.04bn.
Vishal Kumar, managing director at Värde, said: “We are delighted to support Titania with a financing solution that enables the company to continue delivering its thoughtfully designed, well-located housing to address the acute undersupply in Stockholm’s rental market.”
Einar Janson, CEO at Titania Holding, said: “With the financing provided by Värde, several separate property loans are incorporated into one unified framework.
“Within this framework, Titania will be able to replace both existing take-out loans on standing assets and construction loans on newly produced buildings. We are pleased to welcome Värde to the Swedish market.”
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