TH Real Estate has secured a €231m finance facility for its Cityhold Office Partnership vehicle from Dutch lender ING.
The 18-month facility is secured against core office space in the UK, France and Germany.
Cityhold’s portfolio includes 12-14 New Fetter Lane, EC4; One Kingdom Street, W2, Tour Areva in Paris; and Atlantic Haus in Hamburg.
In total the facility will cover six assets in the portfolio.
Colin Throssell, head of treasury at TH Real Estate, said: “We have worked extensively with ING in the past and they have proved to be a great partner in executing this cross-border, complex transaction. Ultimately the loan has been designed and executed so as to allow the successful launch of the Cityhold Office Partnership with competitive debt arrangements, boosting investors’ returns, but on a term and security basis that does not restrict the partnership’s longer-term, broader financing strategy. We look forward to engaging with all of the potential financing partners on the next stage of the project.”
