EUR 13,700,000 senior loan facility closed with Berliner Sparkasse

Posted by JR-Capital in News

We are pleased to announce the completion of a new EUR 13.7m senior loan facility with Berliner Sparkasse secured against a residential portfolio in Berlin, Germany valued at in the region of EUR25m.


We took the opportunity to re finance the portfolio following the recent addition of a new residential building that was acquired in cash for EUR 2.5m in March 2014 together with over EUR 1m of capital expenditure to the existing 5 residential buildings over the past 2 years which has led to both an increase in rental income and capital value.


Acquired and managed on behalf of an Abu Dhabi based family the portfolio now consists of over 370 units of over 250,000 sq ft producing a gross rent of in excess of EUR 1.6m.


With all in borrowing costs at under 2.5% fixed for 5 years the loan provided an attractive opportunity to lock in the current record low interest rates and release 100% of the equity invested into the portfolio over the past 8 years.


John Collier-Wright commented: “The equity released from the new loan facility will be used to further improve the existing portfolio and to reinvest into new residential and commercial property opportunities in both Germany and the UK.”


10 Jun 2014