German investment manager Aukera Real Estate has completed senior secured financing of over €150 mln to refinance an existing portfolio of more than 65 mixed-use properties in the Netherlands and for targeted ESG measures to further optimize the portfolio.
The deal was executed through the Aukera Real Estate Debt Lux. fund, a Luxembourg S.C.A. SICAV RAIF, while the borrowers are companies of the Amsterdam-based investment group Metroprop B.V.
The 86,400 m2 portfolio consists primarily of residential and commercial properties in excellent central locations in various cities, in addition to space leased to essential local providers such as supermarkets.
Almost all the properties are leased out and over half of them are in Amsterdam.
Lars Armgart, CEO of Aukera Real Estate, said: ‘Our business relationship with Metroprop founder Jos van de Mortel goes back more than six years,” says “Even in challenging environments, the investor has repeatedly managed to strengthen this portfolio through targeted measures, thereby delivering stable performance. This excellent track record convinced us to support Metroprop yet again with this refinancing transaction.’
Jos van de Mortel, founder, and owner of Metroprop, added: ‘We are very pleased and satisfied that we have been able to refinance this portfolio in this way, without any negative cash flow impact, so that we can continue our strategy of investments that combine sustainability with good returns. In this respect, we are already among the leaders in the European market.’
With the latest financing, Aukera’s total lending since its founding in July 2020 has now grown to €1.36 bn.
Aukera Real Estate was advised by Bryan Cave Leighton Paisner (BCLP) and by Voorhorst Van Waegeningh Advocaten, while Metroprop was advised by Finway and by PolarReal Debt & Capital Advisory.
Aukera Real Estate expects three more transactions in the coming weeks, including the refinancing of a German object in the amount of €30 mln as well as financings of real estate portfolios in Luxembourg and the Netherlands with a combined value of €175 mln.
