CG Capital Europe has acted as the Exclusive Advisor to Owner of the Assets, a top international institutional investor (with over $8 billion of real estate investments GAV), on successfully structuring and raising a senior loan secured by two Office Assets, acquired back in 2019.
The office Assets have a total GLA of 14,815 sq.m. and 484 parking spaces, and are sited in the wealthy A-6 Highway Axis, in Madrid. They have been fully renewed in the recent years, with a total Capex investment of c. €7 million.
After the Capex program execution, the Owner of the Assets has been able to perform a lease-up strategy, reaching a current occupancy rate of c.65%, representing a remarkable achievement, especially considering the recent Covid-19 impact (4,000 sq.m. were leased in the last 12 months).
The lender attracted and selected by CG Capital Europe has been a Spanish financial institution.
This Financing Transaction has been successfully executed in the current complex global environment for the office sector, affected by Covid-19 crisis, with banks very reluctant to provide financing to this asset class.
CG Capital Europe, as the exclusive financial and real estate advisor of the Transaction, has run the entire structuring and execution process, contacting main European banks and debt funds, finding the most adequate lender and designing an optimal financing structure for the Client.
This financing transaction represents another example of CG Capital Europe’s successful track record, its excellent long-term relationships and privileged access to real estate lenders (banks and alternative debt funds) and equity investors around the world, and its deep knowledge of real estate and corporate finance, having closed deals for over €3,900 million, with a c.95% success ratio, during the last nine and a half years.