Dutch high street retail portfolio refinanced by BGO

CBRE acted as exclusive debt arranger for the refinancing of a Dutch high street retail portfolio owned by Castlelake funds. BGO provided refinancing for the ‘Nexus’ portfolio which consists of six regional, centrally located high street retail assets (in Assen, Deventer, Helmond, Spijkenisse, Veenendaal and Venlo) with roughly 110,000 sqm of lettable area. The portfolio is managed by ARC Real Estate Partners. The ca. €115 million BGO facility refinances the Big 6 Facility as included in the Kanaal CMBS Finance 2019 at its Final Maturity Date.

Arie Den Hartog, Retail Partner at ARC; “We are glad we could deploy our longstanding experience in the retail segment and with this portfolio to structure this new financing facility, which will enable us to complete our business plan in the coming years. ”

Ulrike Broelsch, Managing Director at BGO; “Although already quite stabilized, by investing the time to properly understand these assets, we believe that we were able to arrange a competitive financing package.”

Robert-Jan Peters, Executive Director at CBRE Debt & Structured Finance; “Proper preparation, leveraging ARC’s and our own in-house specialist retail knowledge, allowed us to reach out to the market to outline the available financing solutions and provide Castlelake with various attractive options. A tightly managed closing process then enabled us to close the transaction in a timely manner.”

For this transaction CBRE acted as exclusive debt arranger for Castlelake, Greenberg Traurig acted as borrower’s legal counsel and van Doorne acted as lender’s legal counsel.

ARC Real Estate Partners is an Amsterdam based independent real estate investment management firm founded in 2016. ARC provides management and advisory services for a select group of international investors looking to enter or expand their operations in the Netherlands. For these investors they act as local operating partner and participate in the transaction via co-investments and performance-based fees. ARC focusses exclusively on the Netherland and has a team of ten specialized real estate investment professionals. Since inception ARC Real Estate Partners has successfully executed more than €1 billion in real estate transactions in the Netherlands.

BGO seeks to help investors and stakeholders realise value from the built environment in the world’s premier real estate markets today. The company has approximately $83 billion in AUM and operates in 28 cities, in 14 countries with a team of 1,400+ employees. BGO runs an active commercial real estate lending platform throughout the UK and Europe. The Senior, whole loan and mezzanine loans offered are typically structured to enable clients to implement their business plans and achieve value creation. The European Lending team have originated over $17 billion of loans across Europe/UK since 2001.

CBRE Debt & Structured Finance is part of CBRE, the world’s largest commercial real estate services and investment company, with the #1 global market position in leasing, property sales, outsourcing, property management and valuation. CBRE is also the largest commercial property developer in the United States, and has over $149 billion of AUM within their Investment Management business. The company’s more than 115,000 employees (excluding Turner & Townsend employees) serve clients in over 100 countries, including over 95 of the Fortune 100. CBRE Debt & Structured Finance is a specialist division that arranges a broad range of financing types, for a very diverse group of clients and across a host of different asset types. The pan-European, 50 strong team closes circa €8 billion of financing annually through local teams in 11 countries.