German bank Helaba is expanding its real estate debt syndication activities in Europe through a partnership with multi-asset investment house, Standard Life Investments.
German bank Helaba is expanding its real estate debt syndication activities in Europe through a partnership with multi-asset investment house, Standard Life Investments.
After having established a debt capital markets platform in London last year, Helaba now has arranged and underwritten a £143 mln (€170 mln) loan facility with Standard Life Investments as syndication partner.
Helaba's business volume stood at over €33 bn at end-2013. In 2013 Helaba also ranked among the leading originators in real estate lending in Germany, Europe and the US with new business exceeding €8 bn.
This transaction is Standard Life Investments' first debt investment since launching its commercial real estate debt platform in 2013. The mandate is being managed by Standard Life Investments on behalf of its client, Standard Life Assurance.
Commenting on the deal, Neil Odom-Haslett, Standard Life Investments head of Commercial Real Estate Lending, said: 'This is an exciting and notable milestone for our debt platform.'
The loan finances a distribution warehouse portfolio across the UK for LondonMetric, fully let to institutional tenants.
LondonMetric is a leading UK REIT investing across the UK predominantly in retail and distribution assets with a current market cap around £880 mln.
