CB Richard Ellis has announced that its EMEA Debt Advisory business has arranged a EUR 50.8 mln financing of the Delacroix office and logistics portfolio in the Netherlands.
CB Richard Ellis has announced that its EMEA Debt Advisory business has arranged a EUR 50.8 mln financing of the Delacroix office and logistics portfolio in the Netherlands.
CBRE said the structure provided the client, CB Richard Ellis Strategic Partners Europe Fund III, a pan-European Fund managed by CB Richard Ellis Investors, with just over 50% leverage and terms that exceeded expectations.
The final terms were agreed ahead of schedule with Landesbank Berlin AG and Berlin Hyp.
Barbara Pereira, managing director, head of EMEA Debt Advisory, CBRE, said: 'This is a significant deal given the prevailing market conditions across EMEA, which have made many lenders more cautious towards financing commercial properties in suburban business parks of major secondary Dutch cities.'
'It proves that despite the current financial climate, debt capital can still be identified for the right investor in the right location. The financial expertise of Debt Advisory and its in depth market knowledge contributed to the success of this financing.'
