Green Loan to optimize the capital structure of a retail portfolio

Background

The Achmea Dutch Retail Property Fund (ADRPF) has a portfolio value of over €900 million, spread across 87 properties with a focus on the nine strongest city centers in the Netherlands, supplemented by neighborhood shopping centers and supermarkets. ADRPF sought to optimize its capital structure to increase the fund’s agility and enable it to capitalize more quickly on opportunities in the recovering retail market, with an emphasis on further strengthening the portfolio and making it more sustainable.

Asset Partners acted as advisor and financing arranger to structure and arrange a customized financing solution in the form of a Green Loan, aligned with the fund’s portfolio and sustainability goals. In this process, the financing structure was tailored to the investment and expansion objectives, with a balanced use of leverage and appropriate covenants.

Deutsche Hypo – NORD/LB Real Estate Finance emerged from a tender involving domestic and international lenders as the most suitable financing provider, in part due to its strong alignment with the project’s focus on sustainable real estate financing, its ability to offer a future-proof financing structure, and its highly competitive terms.

Result

• €50 Million Green Loan
• Competitive interest rates through selection from a competitive bidding process
• Optimization of the capital structure and increased investment capacity for the fund
• Financing Structure for Refinancing and Expanding the Retail Portfolio
• Framework established for future expansion of the financing
• Agreements and terms aligned with the fund's risk profile and objectives