Aeriance Investments provides €81 million of Residential loans (UK)

Aeriance Investments S.A., the European Commercial Real Estate Lending Specialist, is seeing ongoing appetite for residential loans, which it is assessing and undertaking on a selective basis on behalf of Opportunistic Real Estate Loan Fund 2 (‘OREL 2’).
Following a successful 2013 issuing over €240m of loans, in the first half of 2014 it has advanced three residential loans for a total value of £64.8m (approx. €81 million). These comprised two loans totaling £38.2m (approx. €48 million) in respect of two office building acquisitions in London which will both be redeveloped as high end residential apartments.
A further two bridging loans have also been provided; one loan of £26.6 m (approx. €33 million) was advanced to an existing customer to allow them to acquire the freehold of an office building in Belgrave Square, London which will be converted back into prime residential space. The second loan of €16.2m (approx. €20 million) was advanced to assist in the acquisition of two attractive sea villas in Cannes, France which will be refurbished and extended.
OREL 2, is a closed end €500m fund focused exclusively on senior and junior short term and development financing loans aimed at high end residential properties located in London and South East England.
Commenting, Harin Thaker, Chief Executive Aeriance Investments, said: “In London, the prime residential market continues to offer a number of interesting opportunities, and we are still seeing significant appetite from a variety of developers. Whilst we will remain very discerning about who we lend to, we are keen to increase the volume of our loan book over the remainder of the year, as we continue to deliver competitive products to the market.”
Source: FTI Consulting