TH Real Estate has completed a series of loans through its commercial real estate debt platform. Testament to the growth aspirations for the global platform, which closed over €3.9bn ($4bn) of loans globally in 2016, the London office has kicked off 2017 with three senior loans in the UK, with an aggregate balance of over €442m (£375m).
The first transaction, was a £165m senior, ten year, fixed rate tranche of a 2 lender, multi-term £265m low leverage facility, to refinance a portfolio of four shopping centres across the UK owned by Capital & Regional.
The second transaction was a £72m senior, ten year, fixed rate loan, at 65% LTV, secured against a Grade A, office property at the heart of London’s insurance district. The property is 100% occupied and multi-let to thirteen office and retail tenants.
Most recently, TH Real Estate, closed a £140m senior, ten year, fixed rate, 60% LTV loan which facilitated the acquisition of Aston Student Villages in Birmingham by a new joint-venture between Unite and GIC. Aston Student Villages consists of five large, detached, purpose-built student accommodation blocks, with over 3,000 beds. The assets are located in the centre of Birmingham, next to Aston University and Birmingham City University.
TH Real Estate offers senior, junior and whole loans secured on a wide range of property assets. It has the ability to enter into bilateral loans or participate in club transactions. In addition, it will work with other lenders in order to provide the optimal financing solutions to borrowers.
Christian Janssen, Head of Real Estate Debt, Europe at TH Real Estate said: “We are delighted to have kicked off the New Year with three successful CRE Debt investments, utilising TH Real Estate’s comprehensive real estate research, equity and debt capabilities for the benefit of our clients. These financings fit precisely within our current UK strategy of providing sponsors with attractive funding solutions for their borrowing requirements in London and regional UK property markets. The loan portfolio now in place across the platform, represents a diverse portfolio of debt investments, all secured on real estate with strong location and asset fundamentals.
“We will continue to expand the TH Real estate lending platform throughout the course of 2017 and will work with borrowers, co-lenders and syndication partners to meet the changing requirements of the rapidly evolving CRE debt market.”