Edmond de Rothschild finances sale-and-leaseback of Osram site in Berlin via mezzanine loan

Edmond de Rothschild REIM, via its European Real Estate Debt Fund, provides mezzanine financing for the acquisition of the historic OSRAM site in Berlin-Siemensstadt. Independent investment manager AVENTOS is acquiring the complex, which includes around 80,000 sqm of existing space, for a group of private investors.

OSRAM will continue to occupy its historic site, at Nonnendammallee 44, as part of a sale-and-lease-back transaction. The asset, which also has over 150,000 sqm of development potential, will be developed into a mixed-use urban commercial neighbourhood in the coming years.

Edmond de Rothschild REIM is providing the mezzanine financing through its Luxembourg-based European High Yield I Real Estate Debt Fund. Hamburger Sparkasse is providing the senior financing.

Photo: Siemens

Edmond de Rothschild REIM had recently raised EUR 250 million, via two debt vehicles, for its European real estate debt strategy. Since then, a further closing of the Edmond de Rothschild European Real Estate Debt Fund has taken place. The investment strategy is focused on providing whole-loan and mezzanine financing, and in selected cases, preferred equity, for investors in the European markets.

Edmond de Rothschild's Real Estate Debt team is part of Edmond de Rothschild's pan-European real estate investment management platform, which has over EUR 12 bn of assets under management and more than 120 staff in 7 European countries.

Edmond de Rothschild REIM was advised by the team led by Dr. Ralf Defren at Weil, Gotshal & Manges LLP.