Edmond de Rothschild REIM finances sale-and-lease-back of OSRAM site in Berlin via mezzanine loan
Edmond de Rothschild REIM, via its European Real Estate Debt Fund, provides mezzanine financing for the acquisition of the historic OSRAM site in Berlin-Siemensstadt. Independent investment manager AVENTOS is acquiring the complex, which includes around 80,000 square metres of existing space, for a group of private investors.
OSRAM will continue to occupy its historic site, at Nonnendammallee 44, as part of a sale-and-lease-back transaction. The asset, which also has over 150,000 square metres of development potential, will be developed into a mixed-use urban commercial neighbourhood in the coming years.
Edmond de Rothschild REIM is providing the mezzanine financing through its Luxembourg-based European High Yield I Real Estate Debt Fund. Hamburger Sparkasse is providing the senior financing.
Edmond de Rothschild REIM had recently raised EUR 250 million, via two debt vehicles, for its European real estate debt strategy. Since then, a further closing of the Edmond de Rothschild European Real Estate Debt Fund has taken place. The investment strategy is focused on providing whole-loan and mezzanine financing, and in selected cases, preferred equity, for investors in the European markets.
Edmond de Rothschild's Real Estate Debt team is part of Edmond de Rothschild's pan-European real estate investment management platform, which has over EUR 12 bn of assets under management and more than 120 staff in 7 European countries.
Edmond de Rothschild REIM was advised by the team led by Dr. Ralf Defren at Weil, Gotshal & Manges LLP.
The Edmond de Rothschild Real Estate Debt Fund is exclusively reserved for professional investors and may be subject to restrictions for certain persons and in certain countries. The Fund does not guarantee or protect the capital invested, so that investors may not get back the full amount of their capital, originally invested even if their units are held for the recommended investment period. Any investment in the Fund is associated with certain risks, not limited to liquidity risk, concentration risk (investments in real estate) and currency risk. Any investment in the Fund may only be made on the basis of documents and information that comply with the applicable regulations