Bbh ( Real Estate Debt | Germany)

In January 2022,  Edmond de Rothschild through its Real Estate debt platform provided the Sponsor a €50m Mezzanine Loan Facility to finance the acquisition of the properties in Hamburg. The mezzanine loan was structurally subordinated to the senior financing provided by three German banks.

Sponsor’s business plan: Refurbish and convert the building into a multi-tenant asset upon vacancy and lease-up.

Loan term: 2-years with maturity in Q4 2023 (aligned with senior loan).

Refinancing: Provided a new 1-year mezzanine €30m bridge loan at lower LTV (re-priced asset basis) and higher pricing reflecting higher interest rate environment.