Hypo Real Estate Bank International announces that it has underwritten a 118 million senior investment facility plus an acquisition facility for the listed Swedish property company AB SAGAX. The facility includes the financing of all of AB SAGAX's real estate holdings in the Greater Stockholm area plus an acquisition facility for future expansion.
The senior investment facility includes the financing of 30 assets in the Greater Stockholm area with a total lettable area of 210,000 m², let to 133 tenants, representing a yearly rental value of 16 million. The portfolio serves a stable segment of tenants in middle-sized light-industry/service trade.
Commenting, Harin Thaker, CEO - Europe, said: "I'm pleased to announce that we have managed to develop and increase our relationship with a successful Swedish listed property company, which has been an important client to the Bank since 2000, by providing this well structured and flexible facility."
David Mindus, CEO AB SAGAX (publ) commented: "The long term commitment of Hypo Real Estate Bank International to our business since 2000 has been a key element to Sagax's successful growth strategy."
Source: Hypo Real Estate International