CG Capital Europe has successfully closed a €41m financing deal for the development of a Modern Office Building in Salamanca District, Madrid.
CG Capital Europe has acted as the exclusive financial and real estate advisor of the Owner of this Green Grade A+ Office Asset, a Joint Venture between a leading European Fund Manager and a Spanish Asset Manager, Revcap and BWRE, on successfully structuring a €41 million senior debt facility for an office development project in Salamanca District, Madrid.
This Office Project consists in the development of a brand-new sustainable office asset (Grade A+ Net Zero Carbon), with a total GLA of 13,800 sq.m. and 202 parking slots, in a prime location of Madrid, the Salamanca District.
This Transaction has been successfully closed in an extreme complex moment for debt markets, especially considering the speculative nature of the project, provoked by an increase of interest rates levels not seen in 15 years and unprecedent financial volatility and uncertainty, representing an extraordinary challenge successfully sorted out by CG Capital Europe.
CG Capital Europe has designed and executed a private process for the optimal financing of the Project, involving several international and national financial entities (banks and debt funds) in this large Financing Transaction, having obtained six credit approved financing offers and finally closing a €41 million development facility with a club deal formed by two banks.
CG Capital Europe, as exclusive financial and real estate advisor of the Transaction, has run the entire structuring and raising process of senior debt, assisting also the Client throughout the due diligence process, as well as in the loan documentation.
This Landmark Financing Transaction represents another example of CG Capital Europe’s highly successful track record, its excellent long-term relationships with +125 lenders (banks, debt funds and alternative lenders), and its deep knowledge of real estate and corporate finance markets, having closed assets’ sale & purchase transactions for over €4.0 billion and financing deals for over €2.1 billion, with a combined c.97% success ratio since 2012.