Partners Group invests in Magasin du Nord flagship department store property in Copenhagen on behalf of its clients
Press release
Baar-Zug, 4 March 2011
Partners Group, the global private markets investment manager, provided mezzanine financing for the acquisition of the Magasin du Nord flagship department store property in Copenhagen (Denmark) on behalf of its clients.
The financing was provided as part of a transaction to complete the acquisition of the property by Solstra Investment, on behalf of its main beneficiary owner Alshair Fiyaz.
The property is located on the historical Kongens Nytorv square close to Strøget, Copenhagen's most exclusive inner city shopping area. The Magasin du Nord department store benefits from direct access to one of the city's major metro stations and has more than seven million visitors every year. Magasin du Nord, a fully owned subsidiary of Debenhams, has entered into a 24+ year triple net lease (a lease requiring tenants to pay all utilities, insurance, taxes, and maintenance costs) for the property.
The opportunity was jointly provided with financing partner DUET Private Equity and their European real estate debt platform. While expected to generate attractive interest returns, Partners Group's facility enjoys significant downside protection due to the equity in the capital structure.
Claude Angéloz, Partner and Co-Head Private Real Estate at Partners Group, comments: "We are very pleased to have been able to secure this attractive investment opportunity for our clients. It is consistent with our strategy to provide financing for high quality properties in excellent locations in an investment market which is currently capital constrained and where transaction volumes remain subdued."
About Partners Group
Partners Group is a global private markets investment management firm with over EUR 20 billion in investment programs under management in private equity, private debt, private real estate and private infrastructure. The firm manages a broad range of funds and customized portfolios for an international clientele of institutional investors. Partners Group is headquartered in Zug, Switzerland and has offices in San Francisco, New York, São Paulo, London, Guernsey, Luxembourg, Munich, Dubai, Singapore, Beijing, Seoul, Tokyo and Sydney. The firm employs over 450 people and is listed on the SIX Swiss Exchange (symbol: PGHN) with a market capitalization of over CHF 4 billion with a clear majority owned by its 36 Partners and all employees.
Investor Relations Contact
Philip Sauer
Phone: +41 41 768 86 60
E-mail: [email protected]
Media Relations Contact
Dr. Anna Hollmann
Phone: +41 41 768 83 72
E-mail: [email protected]
Press release
Baar-Zug, 4 March 2011
Partners Group, the global private markets investment manager, provided mezzanine financing for the acquisition of the Magasin du Nord flagship department store property in Copenhagen (Denmark) on behalf of its clients.
The financing was provided as part of a transaction to complete the acquisition of the property by Solstra Investment, on behalf of its main beneficiary owner Alshair Fiyaz.
The property is located on the historical Kongens Nytorv square close to Strøget, Copenhagen's most exclusive inner city shopping area. The Magasin du Nord department store benefits from direct access to one of the city's major metro stations and has more than seven million visitors every year. Magasin du Nord, a fully owned subsidiary of Debenhams, has entered into a 24+ year triple net lease (a lease requiring tenants to pay all utilities, insurance, taxes, and maintenance costs) for the property.
The opportunity was jointly provided with financing partner DUET Private Equity and their European real estate debt platform. While expected to generate attractive interest returns, Partners Group's facility enjoys significant downside protection due to the equity in the capital structure.
Claude Angéloz, Partner and Co-Head Private Real Estate at Partners Group, comments: "We are very pleased to have been able to secure this attractive investment opportunity for our clients. It is consistent with our strategy to provide financing for high quality properties in excellent locations in an investment market which is currently capital constrained and where transaction volumes remain subdued."
About Partners Group
Partners Group is a global private markets investment management firm with over EUR 20 billion in investment programs under management in private equity, private debt, private real estate and private infrastructure. The firm manages a broad range of funds and customized portfolios for an international clientele of institutional investors. Partners Group is headquartered in Zug, Switzerland and has offices in San Francisco, New York, São Paulo, London, Guernsey, Luxembourg, Munich, Dubai, Singapore, Beijing, Seoul, Tokyo and Sydney. The firm employs over 450 people and is listed on the SIX Swiss Exchange (symbol: PGHN) with a market capitalization of over CHF 4 billion with a clear majority owned by its 36 Partners and all employees.
Investor Relations Contact
Philip Sauer
Phone: +41 41 768 86 60
E-mail: [email protected]
Media Relations Contact
Dr. Anna Hollmann
Phone: +41 41 768 83 72
E-mail: [email protected]