CBRE Investment Management has secured a new finance facility for its indirect secondaries strategy, to be delivered by RBS International (RBSI), part of the NatWest Group.
The subscription credit facility is scalable up to $250 mln (€234 mln) and is designed to be flexible.
The new facility gives CBRE Investment Management (CBRE IM) access to external debt to support its growing investment pipeline, the company said in a statement. The facility also provides the capability for loans to be drawn via multiple borrowing vehicles, to provide for the differing needs of varied investment geographies.
The new facility supports CBRE IM’s indirect secondaries strategy, which seeks opportunistic returns by identifying thematic real estate trends in markets where liquidity or capital constraints present opportunities to acquire high-quality real estate on attractive terms.
Duco Mook, global head of Treasury & Debt Financing at CBRE IM’s Indirect Real Estate Strategies, said: 'We have worked collaboratively with RBSI for many years, across several strategies – it is a tried and tested relationship, that has allowed us to close multiple subscription facilities for different products. We have been able to secure niche financing solutions that help us achieve our objectives, despite a challenging market in which liquidity is scarce.'
