Thursday, 2 July 2015
Sunrise Properties completes €360 mln German retail portfolio deal (DE)
An independent investment vehicle owned by Jacob Lyons, Claudius Meyer, Stephen Benson and Torsten Hollstein has completed the acquisition of the Sunrise Portfolio in Germany for approximately €360 mln and secured debt financing for the deal from HSH Nordbank.
The Portfolio sale consisting of 127 predominantly retail properties across Germany was the result of a number of loan events of default by Treveria plc, its previous owner. The defaults triggered an enforcement and consequently the sale of the Portfolio according to the instructions of the administrator and the servicer Hatfield Philips. The loan which was known as the Orange Loan was one of six remaining loans within the Talisman 6 CMBS securitisation.
CR Investment Management is the asset manager on the portfolio and advised Sunrise Properties on the financing of the transaction together with HFS Helvetic Financial Services and Dentons LLP.
Source: CR Investment Management