Baar-Zug, Switzerland, 28 April 2015
Partners Group provides mezzanine in EUR 125 million German property portfolio refinancing
Partners Group, the global private markets investment manager, has provided EUR 34 million in mezzanine financing on behalf of its clients to support the EUR 125 million refinancing of a mixed-use commercial property portfolio in Germany. Pbb Deutsche Pfandbriefbank provided a senior loan of EUR 91 million.
The real estate portfolio is managed by Alpha Real Capital LLP and consists of 29 retail and logistics properties located across Germany with a highly diversified tenant base. The refinancing closed earlier in April 2015 and will support a value creation strategy focused on re-gearing short term leases, reducing vacancy levels and carrying out property-specific value add initiatives.
Paolo Bortolotti, Vice President, Private Real Estate Debt, Partners Group, comments: “This transaction was a great opportunity to work together with another leading European real estate lender to provide financing to a portfolio of properties with strong cash flows operated by an experienced sponsor. Partners Group's mezzanine solution provided the necessary flexibility to meet complex requirements and was structured at attractive terms for our clients.”