German lender Aareal Bank has provided a €530 mln senior financing facility to US REIT NorthStar for its €1.1 bn acquisition of a pan-European office portfolio at end-2014.
German lender Aareal Bank has provided a €530 mln senior financing facility to US REIT NorthStar for its €1.1 bn acquisition of a pan-European office portfolio at end-2014.
Aareal Bank acted as arranger, agent and sole underwriter for the €530 mln, seven-year senior facility.
NorthStar acquired the office portfolio from SEB Asset Management in December last year. It comprises 11 office buildings in Brussels, Paris, Hamburg, Milan, Amsterdam and Rotterdam, Gothenburg and London with a gross leasable area of around 186,000 m2.
Background
NorthStar, Cale bag European office portfolio for €1.1b
