Japanese bank Nomura has provided a €104 million loan to European real estate fund manager Aerium to refinance the H20 office building located in Luxembourg.
Nomura is a tenant in the H20 building, alongside occupiers including PwC, Fundrock and Global Jet. The 26,000 square metres building currently has 10,000 square metres of availability and is subject to a leasing drive by Aerium, which is targeting full occupancy by the end of the year.
H20 is located in the ‘Ban de Gasperich’ district south of Luxembourg City. The building was constructed in 2006.
“This transaction provides Aerium with funding diversification as well as the potential for future financing with Nomura. Aerium has been active in the Benelux region, which remains a target market for the group, for over 14 years,” commented Franck Ruimy, chief executive officer of Aerium.
“We see strong value in the asset and fully support the management team in their strategy to lease the available space in the property,” added Roger Cattermole, managing director at Nomura.