IVG Institutional Funds GmbH and ING Real Estate Finance ('ING REF') have secured in total over 20 million in funding on behalf of the special real estate fund EPFUND OIK, managed by IVG Institutional Funds GmbH. The funding was among others used to acquire a 10,600-m² office/school building in The Hague, the Netherlands.
The six-story property also known as the 'Mondriaan' is leased to ROC Mondriaan, a large educational group aimed at vocational training, with a long remaining lease term. The mortgage-backed financing is fully tailored to the criteria of IVG's funds regarding structure, principal, term and (limited) amortizations.
Jan-Evert Post, ING REF Global Management Team member responsible for Germany, adds: "This transaction shows our capability to use ING REF's European network assuring a smooth process with maximum flexibility for this significant debt offering.
"We cover most of the European countries and therefore can serve industry leaders as IVG in their pan-European strategies."
ING REF acted as Sole Arranger and Sole Hedge Provider on these transactions.
Source: ING Real Estate
