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Trei Obtains Loan Facility of 35.5 Million Euros

Trei Real Estate (“Trei”), an international developer and asset manager, obtained a further loan facility. The 35.5 million euros in loan funds made available by Postbank are split into two tranches: 15.6 million euros have a maturity of five years, while the remaining 19.9 million euros will have to be repaid after ten years. The loan takes the form of a classic real estate financing arrangement, collateralized with 17 retail properties in Germany that are let to a major German food discount chain. The properties are well suited to serve as collateral because they are let to a retail company with impeccable credit rating on long-term leases.

Matthias Schultz, the CFO of Trei Real Estate, elaborated: “I am grateful to Postbank for the trust-based collaboration and for their professional handling of the matter. The loan facility offers us a high degree of flexibility and supports our long-term funding strategy. It enables us to meet short-term liquidity needs and to act quickly within the scope of our residential developments in Germany, Poland and the United States as well as in the context of our retail park developments of the Vendo Park brand in Poland.”

Trei currently has about 6,100 residential units under development in Germany, Poland and the United States. The majority of these are located in Poland, with 2,500 units spread across eight different developments. Another seven developments are located in the United States, which will deliver around 2,200 units. Third in line is Germany with 1,400 units in twelve developments. The development pipeline in the retail segment in a combined volume of 200 million euros consists of retail parks of the Vendo Park brand in Poland.

In the recent past, Trei Real Estate has repeatedly secured significant external financing for its project development activities. The latest of this involved a cross-border facility in the amount of 73.5 million euros that the company took out from Deutsche Pfandbriefbank AG (pbb), a German specialist bank for commercial real estate finance. This latest financing arrangement with Postbank brings the debt-to-equity ratio of Trei up to 36.1 percent.



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