Real estate investment firm BGO has provided a €115 mln refinancing for the so-called ‘Nexus’ portfolio which consists of six regional, centrally located high street retail assets in the Dutch cities of Assen, Deventer, Helmond, Spijkenisse, Veenendaal and Venlo.
CBRE acted as exclusive debt arranger for the refinancing of the portfolio which is owned by Castlelake funds.
The portfolio, with roughly 110,000 m2 of lettable area, is managed by ARC Real Estate Partners. The facility refinances the Big 6 Facility as included in the Kanaal CMBS Finance 2019 at its Final Maturity Date.
Ulrike Broelsch, managing director at BGO said; 'Although already quite stabilized, by investing the time to properly understand these assets, we believe that we were able to arrange a competitive financing package.'
Robert-Jan Peters, executive director at CBRE Debt & Structured Finance commented; 'Proper preparation, leveraging ARC’s and our own in-house specialist retail knowledge, allowed us to reach out to the market to outline the available financing solutions and provide Castlelake with various attractive options. A tightly managed closing process then enabled us to close the transaction in a timely manner.'
