Portfolio consists of greater than 400 social housing items in Rome
MINNEAPOLIS, March 17, 2022 /PRNewswire/ — Castlelake, L.P. (“Castlelake”), a worldwide different funding supervisor with over 17 years of expertise investing in asset-rich alternatives, in the present day introduced it has supplied €65 million of financing to a non-public investor group for its acquisition of a portfolio of 4 actual property belongings in Rome, Italy.
The portfolio consists of three social housing belongings and one residential property. The social housing asset consists of 417 items throughout three properties, and the financing is predicted to allow the possession group to proceed addressing the numerous scarcity of social housing within the area. Castlelake believes that the residential property is advantageously positioned in central Rome, the place there seems to be a backlog of demand for top of the range residences. The residential property is predicted to endure refurbishment in Q1 of 2022, which probably may create new jobs within the space.
“We’re excited to acquire publicity to what we imagine to be high-quality, European actual belongings with this portfolio,” mentioned Isaiah Toback, Companion and Deputy Co-Chief Funding Officer at Castlelake. “As well as, we have been attracted to those belongings based mostly on the significant means by which the funding may benefit the area people by supporting a lot wanted social housing provide and probably offering native employment alternatives, each elements that align with our values and dedication to ESG.”
“This financing builds on our expertise in asset-based lending throughout Western Europe, the place we have now invested almost $6 billion since 2007,” added Eduardo D’Alessandro, Companion, International Actual Property at Castlelake.
This funding is a part of Castlelake’s present technique in Europe to supply capital to debtors with pressing demand for financing backed by prime quality collateral. The transaction builds on the agency’s expertise investing in Europe, the place it has acquired greater than 7,000 belongings throughout 12 European nations since its founding in 2005. Latest exercise consists of Castlelake’s investments in Millenium Hotels Real Estate, a listed actual property funding firm specializing in luxurious lodge properties in Spain and Portugal; Prodea Investments, the biggest Greek actual property funding firm; and Aedas Homes, one of many largest Spanish homebuilders.
Castlelake, L.P. is a worldwide different funding supervisor targeted on investments in actual belongings, specialty finance and aviation. Based in 2005, Castlelake manages roughly $21 billion of belongings. The Castlelake group contains greater than 200 skilled professionals, together with 89 funding professionals, throughout six workplaces in North America, Europe and Asia. For extra info, please go to https://www.castlelake.com/.
Castlelake Media Relations
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