on Aareal Bank AG (ETR:ARL)
Aareal Bank Supports Lighthouse Properties with €128 Million Facility
Aareal Bank AG has successfully arranged a €128 million top-up facility for Lighthouse Properties plc. This move aids the refinancing of Lighthouse's Nexus Portfolio, incorporating two additional high-quality malls in Spain, thereby increasing the portfolio's scope.
Originally consisting of three malls in Cartagena, Girona, and Madrid with a €206 million loan, the total exposure now grows to €334 million. The newly added assets, Torrecardenas mall in Almería and Alcalá Magna mall in Madrid, are significant additions thanks to their prominent international tenants.
The portfolio now boasts five malls, with each asset certified BREEAM ‘Very Good’ or ‘Excellent.’ This qualifies the financing as a 100% Green Loan, aligned with ESG principles.
Aareal Bank's involvement underscores its commitment to sustainable real estate investments. The initiative strengthens Lighthouse Properties' operational and financial flexibility, enhancing its leading Spanish retail positions.
R. H.
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