Aareal Bank AG provided a €530 mln senior financing for the acquisition of a €1.1 bln pan-European office portfolio by NorthStar Realty Finance Corp.
The company is organized as a Real Estate Investment Trust (REIT), managed by an affiliate of NorthStar Asset Management Group Inc., headquartered in New York. Aareal Bank acted as arranger, agent and sole underwriter for the €530 mln seven year senior facility.
The office portfolio is comprised of eleven office buildings in cities in seven of Europe’s major markets, namely in Belgium (Brussels), France (Paris), Germany (Hamburg), Italy (Milan), Netherlands (Amsterdam and Rotterdam), Sweden (Gothenburg) and the United Kingdom (London) with a gross leasable area of around 186,000 m².
Source: Aereal Bank AG