AEW Europe has received a €248 mln loan on behalf of Fondis, its French core retail vehicle, from banks BNP Paribas and Société Générale.
AEW Europe has received a €248 mln loan on behalf of Fondis, its French core retail vehicle, from banks BNP Paribas and Société Générale.
Fondis owns a portfolio valued at around €400 mln.
The agreement enables Fondis' existing debt to be refinanced and also provides a new credit line for which the drawdown period is three years. Fondis' investment capacity is currently €250 mln.
'We are delighted that the existing lenders continue to support Fondis in its new investment phase that will enable Fondis' assets to increase to over €600 mln,' commented Stéphane Sebban, the fund's portfolio manager.
AEW Europe was advised by Baker & McKenzie. BNP Paribas and Société Générale were represented by De Pardieu Brocas Maffei.
