6 July 2017
Amsterdam
Reporter: Theo Andrew

CBRE GI Dutch Retail Fund secures £120m refinancing


CBRE Global Investors has secured the refinancing of its Dutch Retail Fund to the tune of £120 million.

Financed by ING Bank, the loan will run for eight years.

According to the fund, the financing is a continuation of the the group’s strategy of reducing its cost of debt in the next few years.

The fund started the restructuring in 2016 after it amended its revolving credit facility (RCF) into a €200 million RCF with a five-year term.

In addition, the fund recently secured €140 million of investment from new and existing investors.

Rik Eertink, fund manager of the CBRE Dutch Retail Fund said: “The interest in the Dutch retail market and in particular the CBRE Dutch Retail Fund continues to grow with both national and international investors.”

“We will continue to strengthen our position as leading core retail fund in the Netherlands, serving those investors who are seeking exposure to retail via a high quality portfolio of dominant shopping centres, high street assets at prime locations and winning convenience clusters in the Netherlands.”

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