Security

€150 million of property

Margin

Sub 200 bps

Lender

Global private bank

A €70m refinance which required a lender with super prime understanding

in the Southern European real estate market

The deal

Assets

  • €150m of super prime European property

Security

  • First charge over select properties

Income

  • Multiple asset classes demonstrated income of 1.5x debt service cover

Requirements

  • Refinance €70m
  • Lender with understanding of super prime market

Challenges

  • Super prime assets
  • Multiple borrowing entities
  • Multiple locations

Facility Secured

  • 3 year term
  • 60% LTV
  • Global private bank

Summary

Our client was an established family office with a track record of more than 40 years across the region. They sought a lender who understood the super prime Southern European residential market well enough to be competitive with rates.

With substantial wealth, the principal was also open to a new private banking relationship for trading, so the credit rating and service proposition of the lender was also a key factor.

ALC secured a 3 year interest only facility at a sub 200 bps margin. Void risk was mitigated with an interest reserve of €2m.

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Colliers International Structured Finance
Second Floor, Weighbridge House, Liberation Place, St.Helier, JE2 3NA, Jersey.

+44 1534 767 600
structuredfinance@colliers.com

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