eQ Commercial Property Fund’s €800 Million Financing Platform With Nordic Financier Consortium Close

Krogerus advised eQ Commercial Property Fund on the deal. Castrén & Snellman advised Nordic financier consortium including Nordea, Aktia, Danske Bank, LocalTapiola and Swedbank

Special Investment Fund eQ Commercial Property Fund has agreed on a significant financing package with a Nordic financier consortium. The existing financing was rearranged and the notable growth potential of the fund was secured for years to come. Sustainability is a central aspect in the fund’s operating model and hence the entire bank loan has been engineered as green sustainable financing.

The signed financing arrangement enables an 800 million euro financing platform, out of which the main part is committed loans and part is accordion financing. eQ Commercial Property Fund’s existing senior secured bond is part of this 800 million euro platform. The financiers include Nordea, Aktia, Danske Bank, LocalTapiola and Swedbank. At the end of June Fund’s debt capital was 440 million euro.

Special Investment Fund eQ Finnish Real Estate invests in Finnish commercial properties. The fund is open for subscriptions four times a year and for redemptions twice a year. Since inception, the average annualised return of the fund has been 8.4 % p.a. (net of fees).

The Krogerus team was led by Partner Heidi Kivenjuuri (Picture) and she was primarily assisted by Partner Paul Raade and Associate Hanna Kim.

The Castrén & Snellman team included Tero Tuomisto, Mikko Heinonen, Elias Tuomainen and Mikko Könkkölä.

Involved fees earner: Mikko Heinonen – Castrén & Snellman; Mikko Könkkölä – Castrén & Snellman; Elias Tuomainen – Castrén & Snellman; Tero Tuomisto – Castrén & Snellman; Hanna Kim – Krogerus Attorneys Ltd; Heidi Kivenjuuri – Krogerus Attorneys Ltd; Paul Raade – Krogerus Attorneys Ltd;

Law Firms: Castrén & Snellman; Krogerus Attorneys Ltd;

Clients: Aktia Bank; Danske Bank; eQ Asset Management; LocalTapiola Group ; Nordea Bank AB; Swedbank;

Author: Federica Tiefenthaler