Spanish REIT Axiare Patrimonio has received a €30 mln loan secured against two office buildings in Madrid from Caixabank.
Spanish REIT Axiare Patrimonio has received a €30 mln loan secured against two office buildings in Madrid from Caixabank.
The loan is for a term of 15 years and reflects a 50% LTV leverage.
The loan refinances the Fernando El Santo property, a 3,254 m2, listed building located in the centre of the Paseo de la Castellana, as well as the Francisca Delgado asset, which was built by architect Rafael de la Hoz and comprises 17,267 m2 of office space and 395 parking spaces located in the Arroyo de la Vega business district of Madrid.
'We have the backing of the banks,' said Axiare Patrimonio's CEO Luis López de Herrera-Oria. Earlier this year the company obtained over €100 mln via three financing deals with Banco Santander, Bankinter and ING Bank.
The company will use the proceeds to finance new acquisitions. The REIT is currently analysing more than €1.4 bn of investment opportunities.
