Aukera Real Estate AG has concluded senior secured financing for a property in the Netherlands. The project - The City Tilburg - comprises c. 27,000m² of gross floor space and is being built on a site directly adjacent to the university campus. The student apartments add up to almost 13,200m² of rentable area. In addition to various community rooms such as fitness, cinema, music and games, the complex also includes a 150m² restaurant as well as 650 bicycle and 112 car parking spaces. Designed as a green building, the complex will be equipped with efficient air-source heat pumps for heating and cooling and photovoltaic roof panels for electricity generation. The concept also includes a green roof garden. "The City Tilburg" is scheduled to be ready for occupancy in January 2024.
The financing offers a high degree of security to the investors of the Aukera Fund, all German insurance companies. The loan is senior secured, the owner is an experienced, long-term investor from the Netherlands, the property has an excellent ESG standard and Tilburg suffers from a chronic housing shortage.
Patrick Züchner, CIO of Aukera Real Estate AG, explains: "We consider the student housing market segment in Tilburg as well as in other university cities in the Netherlands to be very attractive. The demand for such apartments will remain very high, not least due to foreign students. This is good for the property and also good for the investors in our fund."
In the current transaction, Aukera Real Estate was legally advised by Bryan Cave Leighton Paisner and by the law firm AKD.
