Monday, May 22, 2017

Global Private Group, a private equity and project finance firm, has refinanced the debt of a Luxembourg based commercial asset management firm to the tune of EUR 251 million.

The commercial asset management firm has currently a strong mix of corporate tenants including leading accounting firm, major law firms and airline headquarters. One of the buildings is currently going through an active leasing process with over 10,000 sq m available to let; new tenants are expected to be secured, returning the asset to full occupancy, by the end of the year. Comprising a total area of over 48,000 sq m, the office building is located just South of Luxembourg City, offering easy access to international motor routes connecting to France, Belgium and Germany. Both the city centre and the airport are less than 10 minutes from the property by car. Constructed in 2006, the building achieved a ‘Very Good’ certification for asset and building management in 2014. Chief executive officer of the Company says: “We are delighted to have successfully refinanced this prime office building with Global Private Group. This transaction provides our firm with funding diversification as well as the potential for future financing with Global Private Group. Our Firm has been active in the Benelux region, which remains a target market for the group, for over 14 years.” “Global Private Group is extremely pleased to be working with the commercial asset management firm on refinancing this high-quality office building in Luxembourg. We see strong value in the asset and fully support the management team in their strategy to lease the available space in the property.”

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