Mezzanine debt advisory for premium serviced apartment project in Frankfurt am Main
Frankfurt am Main, April 2020. Cheyne Capital has provided a mezzanine credit facility for a premium serviced apartment project in Frankfurt.
A British family office develops a luxury serviced apartment hotel in the inner-city of Frankfurt. The property will comprise approximately 200 apartments. The 4-star plus serviced apartments will be operated by a renowned international brand under a management agreement. This project will be the first launch of the brand in Germany.
Cheyne Capital has provided a mezzanine development facility to the borrower. A senior credit facility is provided by Hamburg Commercial Bank AG.
ACXIT Real Estate acted as the exclusive debt advisor to the borrower. The tasks of ACXIT included particularly the optimization of the debt structure, CFA- and ICA-negotiation and execution of CPs.
About Cheyne Capital
Launched in 2000, Cheyne Capital is one of Europe’s leading alternative investment managers and is headquartered in London. Cheyne invests across the capital structure from the senior debt to the equity of corporates and real estate. In real estate specifically, Cheyne has provided financing solutions since 2009 and now manages over GBP 2.5 billion of assets across direct real estate lending, securitized European real estate debt and selective special situations. Cheyne seeks to provide specialized non-bank loans to borrowers in select European markets, with a flexible approach that enables it to invest into all parts of the capital structure.
ACXIT Capital Partners through its subsidiary ACXIT Real Estate (ARE) is a leading independent corporate finance and investment advisory firm for real estate in Europe and beyond. ARE combines both Mergers & Acquisitions and Debt advisory expertise. Since 2016, ARE has completed approx. 40 transactions with a total deal/financing volume of approx. EUR 4bn covering more than 260 assets.
ACXIT Capital Partners is a leading independent corporate finance and investment advisory firm for mid-market clients and entrepreneurs in Europe and beyond. As an independent, privately owned firm, we maintain offices and representations in Frankfurt, Berlin, Munich, Zurich, Hong Kong and New York as well as strong alliances in the UK, France and India. Our clients are corporations, family-owned businesses, entrepreneurs, financial sponsors and family offices.
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TRANSACTION TEAM ACXIT Real Estate
Kay Hofmann, Managing Partner
Han Chi, Associate