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Annexum successfully arranged refinancing with Morgan Stanley and Unifore

November 07, 2017

Annexum today announced that it has arranged the refinancing of a part of its office portfolio. The Dutch real estate fund manager has negotiated a refinancing for Vastgoed Fundament Fonds N.V. of € 27.6 million with Morgan Stanley.

Unifore and Morgan Stanley recently entered into an agreement to lend to the Dutch CRE market, enabling borrowers across the Netherlands access to flexible loan structures and LTVs.
This transaction marked the recovery of the Dutch office market and the improvement of the CRE financing climate. Annexum noted that this is a positive milestone in the financial outlook of Vastgoed Fundament Fonds N.V. and a strong basis for further growth of the fund.

The refinanced portfolio consists of thirteen office buildings located in twelve different cities in the Netherlands. The assets have a total LFA of 47,700 sqm and generate a gross rental income of € 4 million with a weighted average lease length of 3 years. The portfolio has a vacancy of approximately 16%.

Annexum was legally advised by Loyens & Loeff.