International law firm Salans said it advised Aerium, a European real estate fund manager, on the refinancing of its Turkish retail portfolio, Bainbridge Capital Retail Properties in May. The re-financing was carried out through a $240 mln (EUR 186 mln) debt facility with Akbank, Turkey's largest merchant bank.
International law firm Salans said it advised Aerium, a European real estate fund manager, on the refinancing of its Turkish retail portfolio, Bainbridge Capital Retail Properties in May. The re-financing was carried out through a $240 mln (EUR 186 mln) debt facility with Akbank, Turkey's largest merchant bank.
It was the first major transaction of its kind in Turkey since the credit crisis,
The capital will be used for extension and redevelopment works on Aerium's Turkish shopping centres. Aerium completed this transaction with Akbank within two weeks, replacing its entire previous facility.
Salans' project team was led by Stewart M. Middleman and included a team of six cross-border finance lawyers from their Global Real Estate Group.
