Lender(s): Ten banks including, BNP Paribas and CaixaBank
Borrower: SFL, a subsidiary of Colonial Group
Loan size: €835 million
Asset(s): Sustainability-linked revolving credit facility
Notes: Five-year revolving credit facility with two one-year extensions and three ESG/sustainability KPIs linked to the margin adjustment mechanism.
Lender(s): Morgan Stanley, Credit Agricole CIB, BAWAG, LaSalle Investment Management
Loan size: €680 million
Asset(s): Portfolio of 15 hotels
Notes: Morgan Stanley and Credit Agricole underwrote a €370 million senior loan, in which BAWAG participated, and LaSalle provided a €310 million mezzanine loan. The loan is structured for three years with two one-year extensions and reflects a sub-60 percent LTV.
Lender(s): Three UK banks
Borrower: LXi REIT
Loan size: £565 million (€655 million)
Asset(s): Company refinancing
Notes: The facility comprises a £200 million, five-year revolving credit facility; a £115 million, five-year term loan; and a £250 million, three-year term loan. The facility represents the final step of the group’s refinancing of its short-term debt maturities, following the recent signing of a £148 million, 16-year term loan with an institutional lender and the extension of a £60 million HSBC loan.
Lender(s): Banco BPM, GWM Group
Borrower: Gruppo Statuto
Loan size: €495 million
Asset(s): Luxury assets in Milan, including Palazzo del Torro, and a five-star hotel in Via Brera
Notes: The refinancing, to enhance property values, was structured as a securitisation with ARECneprix as broker and servicer. Giovanardi Studio Legale, DLA Piper, Cappelli RCD and Linklaters advised on the transaction.
Lender(s): Santander, Bank Pekao, Helaba and Berlin Hyp
Borrower: HB Reavis
Loan size: €475 million
Asset(s): Varso Place project
Notes: The project contains offices, a hotel, an innovation hub and retail units. HB Reavis said the refinancing loan is the largest for a single asset in the history of the Polish real estate market.
Lender(s): Citi, Bank of America, Deutsche Bank
Loan size: €300 million
Asset(s): Logistics portfolio
Notes: The acquisition financing, first reported by CoStar News, financed Blackstone’s circa €490 million acquisition of a logistics portfolio from Swedish property company Corem.