Natixis finances CBRE GI’s Milan investment

CBRE Global Investors has sourced a financing of a recent purchase in Milan from French bank Natixis.

The size of the loan was not disclosed by the deal participants, although it is understood to be slightly less than €140 million.

The loan, which was arranged by the debt and structured finance team within CBRE Capital Advisors, funds the purchase of Piazza Duomo 25 in Milan, a retail asset which is currently let to high street clothing chain H&M.

CBRE Capital Advisors announced that it has arranged £230 million of finance for a single CBRE Global Investors fund so far this year. In addition to the Milan transaction, CBRE has arranged finance for two further deals in London from Canada Life Investments – the 150,000 square feet Angel Central retail and leisure complex; and Mutual House, a prime West End office and retail property.

CBRE Capital Advisors operates on a retained mandate with several fund managers, including CBRE Global Investors, to advise on pan-European debt strategies. The unit reported that it has been mandated to raise more than £1 billion of debt in Europe so far this year.

Closings to date include the raising of €125 million of development finance on behalf of Kennedy Wilson for its Capital Dock development in Dublin; £70 million for Titanic Quarter in Belfast; £29 million for Henley student housing and the arrangement of a £72.3 million loan for Amtrust to purchase Exchequer Court in the City of London.

“Lending appetite across Europe remains healthy, especially for best in class assets in core locations,” commented Marco Rampin, head of debt and structured finance Europe at CBRE Capital Advisors.