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The financing of a shopping scheme in the country demonstrates banks’ returning appetite for real estate debt.
Lar España has sourced €98.5m from local banks for the construction of a shopping centre in Seville.
Amid warnings of ‘enormous complacency’, deepening gloom on the UK’s high streets should encourage lenders to adjust their strategies.
The facility, provided to German pension fund BVK, finances what will be Apple’s flagship European store on the Champs-Elysées.
The bank will securitise a large portion of three loans sponsored by Blackstone and Partners Group.
The retail property giant has agreed with a consortium of lenders led by Santander a reduction of margin and an extension of maturity for the debt facility.
The 10-year debt facility, with a fixed interest rate, will be used to finance the seed portfolio of a vehicle managed by Corestate on behalf of the German pension fund.
A syndicate of 12 banks has provided the three-year debt facility with an initial margin of 100bps.
Poland’s Bank Pekao has written a €200 million loan to refinance the Galeria Północna retail park in Warsaw.
Aviva Investors has written a £54.16 million (€61.44 million) loan to refinance the acquisition of four retail warehouse parks by UK REIT Ediston Property Investment Company (EPIC).