NATIXIS Pfandbriefbank AG arranges a €220 million mortgage loan for the refinancing of 28 retail properties across Germany
NATIXIS Pfandbriefbank AG – part of Groupe BPCE – has arranged a five-year €220 million mortgage loan to a semi-closed-ended fund managed by Rockspring Property Investment Managers LLP.
The loan will be used to refinance a portfolio of 28 retail properties located across Germany, the majority of which are established retail parks anchored by large scale food stores. The €220 million financing includes a €15 million capex facility to complete the ongoing repositioning of some of the properties.
In this transaction, NATIXIS Pfandbriefbank AG was counselled by Freshfields Bruckhaus Deringer LLP.
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About Groupe BPCE
Groupe BPCE is the second-largest banking group in France. Through its 100,000 staff, the group serves 35 million customers – individuals, professionals, companies, investors and local government bodies – around the world. It operates in the retail banking and insurance fields in France via its two major networks, Banque Populaire and Caisse d’Epargne, along with Banque Palatine and Oney. It also pursues its activities worldwide with the asset & wealth management services provided by Natixis Investment Managers and the wholesale banking expertise of Natixis Corporate & Investment Banking. The Group's financial strength is recognized by four credit rating agencies with the following senior preferred LT ratings: Moody's (A1, stable outlook), Standard & Poor's (A, stable outlook), Fitch (AA-, negative outlook) and R&I (A+, stable outlook).
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