Frankfurt-based real estae debt manager LOANLAND has made a debut investment for the fund it launched in May as it seeks to build up a portfolio of at least €100 mln for the vehicle.
The real estate investment manager, which is backed by German real estate company, NAS Group, has agreed a loan in the low double-digit million euro range on beahlf of Loanland Real Estate Tactical Credit Fund I.
Financing has been granted for the first phase of a logistics development in the A27 Park in Walsrode, Lower Saxony, north-western Germany, by Schwäbische Wohnungs, Ruppmann Investment, and logistics specialist, Kellergroup.
The asset is a sortation centre with a gross floor area of around 60,000 m² on a 9.5 hectare site on the A27 motorway to be completed within two years. Even before the start of construction, a long-term lease agreement with a renowned tenant has been secured, the lender said.
Loanland said its fund targeted loans in the range of €10 mln to €35 mln in the DACH region and in Luxembourg where the fund is domiciled.
The company's MD is Daniel Schmidt, formely of Commerzbank for eight years in its debt capital markets team, and mlore recently head of real estate finance at Oceans & Company in Frankfurt, which he left in 2021.
