DRC Capital announces final close of European Real Estate Debt Fund II in excess of £487 million, exceeding its target fund size.
Barclays has taken on £130m of senior debt from DRC Capital and Cheyne Capital secured against Queensgate Investments’ Executive Offices Group.
Evans Randall has refinanced its Königsbau Passagen shopping mall in Stuttgart, Germany.
Mezzanine fund European Real Estate Debt II has made two more loans, both German refinancings. The fund, which was launched last year by London-based DRC Capital, has now made six investments and raised over £200m in two closings.
European Real Estate Debt II S.à.r.l (“ERED II”), advised by DRC Capital, has provided a €16.2 million mezzanine facility as part of a refinancing of a portfolio of six department stores in Germany fully let to Kaufhof, part of the Metro Group.
Evans Randall has refinanced its Königsbau Passagen shopping mall in Stuttgart, Germany.
Barclays has taken on £130m of senior debt from DRC Capital and Cheyne Capital secured against Queensgate Investments’ Executive Offices Group.
The county retirement system has made its first European real estate debt investment, committing $50 million to DRC Capital’s second fund.
DRC Capital and Cheyne Capital fund purchase of Executive Offices and its 28 central London assets.
The Public Employees Retirment Association of New Mexico has approved a $40m (€30.5m) commitment into the DRC Capital European Real Estate Debt Fund II.