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The bank will securitise a large portion of three loans sponsored by Blackstone and Partners Group.
A rebound in commercial property lending during H2 2017 put last year’s figures on a par with 2016.
A £27m facility will be used by the business, which rents space to charities and social enterprises, to back its growth plans and a London office development.
The bank will allow Germany’s Sparkassen to take sub-€1m participations in real estate loans.
Germany’s HSH Nordbank has been sold to a private equity consortium. Doug Morrison asks what that means for its real estate lending business.
Lloyds has led the £390m financing of the mixed-use project in Shoreditch.
The bank recorded €1.9bn in fresh CRE business last year, with solid activity in the UK, Spain and the Netherlands also contributing to the 13% year-on-year increase.
The senior 10-year notes carry a 1.5% coupon.
Full-year 2017 results show mixed fortunes for Germany’s real estate lenders and most expect a challenging year ahead.
The 10-year debt facility, with a fixed interest rate, will be used to finance the seed portfolio of a vehicle managed by Corestate on behalf of the German pension fund.