PORTFOLIO: FUND V
Mezzanine finance for residential development project in Berlin
The fund is providing developer Mundial AG with €10.25 million of mezzanine finance to acquire two buildings in an affluent suburb of West Berlin that are currently used as offices. The financing helps cover the costs of acquiring and converting the buildings into luxury condos, for which planning consent is already in place.
Dahlem is a well-established prime residential neighborhood in Berlin with a shortage of new or refurbished homes. These fundamentals provide the fund with good visibility on the successful delivery of the project.