PORTFOLIO: FUND II
Mezzanine loan to 15,000 sm office and retail redevelopment project near the “Zeil”
ASG’s Fund II was approached by a developer looking for mezzanine financing to complete an office redevelopment in Frankfurt just off the city´s main shopping district, the ‘Zeil.’ ASG saw an opportunity to help a capable and experienced developer complete a quality building. After a fast, but thorough due diligence, ASG was able to structure a simple, straightforward financing package to close the transaction. Construction began within a week of AcSG funding the project and was successfully completed within a two year time frame. The developer promptly repaid the loan and profit to ASG in June 2014. Understanding the true potential of the project allowed ASG to participate in a sensible repositioning project that met the stringent underwriting goals established by Fund II.