Deutsche Hypo finances mixed use portfolio for Libra International
Deutsche Hypo has granted a non-recourse loan of €120M to Libra International BV, a Dutch private investor, for the financing of a core quality mixed use portfolio. The loan funds the buyout of a family shareholder.
The portfolio comprises retail, office and residential properties located in the heart of Amsterdam. The retail properties are located in prime retail areas such as PC Hooftstraat, Utrechtse straat, Leidsestraat, 9 straatjes and Koningsplein. Eye-catching office properties are located at Keizersgracht and Herengracht.
Marc Verhagen, Director of Libra International BV: “The financing of the buyout of a family shareholder has been crucial for the continuation of our family business. Libra International BV was able to secure long term financing on very favorable terms. During the process, the interaction with our advisors from CBRE and also with Deutsche Hypo has always been pleasant and constructive.”
Wouter de Bever, managing Director Deutsche Hypo: “For multiple reasons we are very content with this transaction: First that the customer gave us their trust, in this highly competitive market, for providing this long term loan, on a high-quality multi let portfolio in Amsterdam. Second, by closing this transaction our portfolio in The Netherlands crossed the two billion euro threshold. Important to mention for future customers: Deutsche Hypo has a long and stable financing track record in The Netherlands (active since 1991). Deutsche Hypo has its office in Amsterdam and can provide debt based on Dutch loan documentation (based on Dutch law) with the advantage of access to the German Pfandbriefe”
Aart Visser (Director) and Philip Zwart (Senior Director) at CBRE Debt & Structured Finance advised the client in this deal. Aart Visser: “The high-quality portfolio and professionalism of Libra International BV attracted a great deal of interest amongst a selective group of national and international lenders. Deutsche Hypo offered the right combination of favorable pricing and conditions as well as pragmatic engineered loan documentation.”
Libra International BV was supported by CBRE in arranging the financing. Libra International BV was legally advised by Kasper Notariaat and Deutsche Hypo by Schaap Advocaten Notarissen.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.