Tuesday, 27 January 2015
Aeriance Investments’ total €285.6 mln of real estate loans in 2014 (EU)
Aeriance Investments S.à.r.l., the European Commercial Real Estate Lending Specialist, saw an unprecedented level of appetite for both commercial and residential loans throughout 2014, bringing its total volume of loans written since the Company’s inception in 2008 to 106, at a value of €1.231 bln.
Following a successful start to 2014, issuing €227.7 mln of loans during the first three quarters, Aeriance advanced six further loans worth €57.9 mln in the fourth quarter of the year. 15 deals were closed over the entire year, for a total value of €285.6 mln.
Aeriance continues to see attractive opportunities in the residential market; in 2014 it provided two bridge loans totaling approx. €23.8 mln to clients in the final quarter. Senior residential bridge financing of €20.3 mln was advanced to support the acquisition of a large terraced house in London’s Westminster. A separate loan of €3.5 mln was also provided to fund the refinancing of a 24-month development project comprising two family homes in addition to 464.5 m² of adjacent commercial space near Notting Hill in West London.
Aeriance’s commercial lending offering also had an active quarter, advancing €15.6 mln of loans. A commercial bridge loan of €13 mln was provided to help fund the acquisition of an office building in London’s Portland Place, alongside €6.5 mln of the borrower’s own money. A €3 mln bridge loan was separately advanced to help a Swedish client acquire a portfolio of 11 properties across the country, which are currently 100% let to foster home operator Baggium on long leases. An additional commercial mezzanine loan for €5.4 mln was drawn for a London hotel.
Robust demand was also evident in the UK regions, as Aeriance provided a €13.5 mln development loan to Trust Estates for the construction of a 207-bed student housing scheme in central Newcastle, which is due to be launched to the market for the September 2015 term start.
Source: FTI Consulting