Edmond de Rothschild Real Estate Investment Management (EdR REIM) has significantly exceeded the €300 mln of investor capital it set itself as a target for its new pan-European real estate debt platform.
Not only has it raised more than €170 mln for its pan-European High Yield Real Estate Debt Fund I upon final close in December 2022, but has a further €180 mln via a separate fund dedicated to one German institutional investor taking the total capital raised for its European real estate debt strategies to more than €350 mln since inception.
The firm has also just signed its first loan investment in the UK by providing a £35 mln (€40 mln) whole loan financing through both fund vehicles to refinance and redevelop a logistic asset in London.
Its High Yield Real Estate Debt Fund I is around 70% invested with six deals closed in Germany, Netherlands, France, Italy and the UK. Typically, in private equity real estate, a new fund will be launched once around 75% is reached.
Ralf Kind, head of real estate debt at EdR REIM, said: ‘We are fully on track with the deployment strategy for our two debt fund vehicles and can take advantage of the current dislocations in the market by sourcing deals at lower LTVs and higher pricing. We continue to focus on loans backed by strong sponsors and assets which provide resilience in an inflationary environment.'
The Edmond de Rothschild Real Estate Debt - European High Yield I Fund is a closed-ended fund domiciled in Luxembourg in the form of an SCA SICAV-RAIF. Alter Domus is the Alternative Investment Fund Manager.
Edmond de Rothschild's Real Estate Debt team is part of Edmond de Rothschild's pan-European real estate investment management platform.