Ashurst advises UniCredit on financing the restructuring of Annexums German Dutch Supermarket Fund

Ashurst advised UniCredit Bank AG on the financing of the restructuring of Annexum's German Dutch Supermarket Fund. The Dutch real estate fund manager concluded a financing package totalling €85m through Unicredit Bank and a private financier. It will be used to refinance existing debt on the fund portfolio.

The portfolio of German Dutch Supermarket Fund consists of 33 supermarkets in 38 cities in the Netherlands and Germany. Spanning 83,000 sqm, the assets generate a gross rental income of approx. €9.6m. The portfolio is 97% occupied by a strong tenant mix of prominent supermarket and retail chains. The restructuring is an important milestone for the financial outlook of the fund and simultaneously offers a strong foundation for further growth.

The Ashurst team was led by partner Derk Opitz. He was assisted by senior associate Emilie Veyran-Müller, associate Patrick Rauch and transaction lawyer Jeanine Boch-Kraul (all Global Loans). Advise on Dutch law was provided by a team from NautaDutilh comprising partner Diederik Vriesendorp, senior associate Michelle van Doren and associate Sicco Gunster.

Ashurst's German banking and finance practice advises both banks and alternative lenders, private equity investors and companies on domestic and cross-border acquisition, real estate, asset and infrastructure / project finance as well as on financial restructuring and corporate lending.