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21.6.2024 10:01:31 CEST | Business Wire | Press release

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Slate Asset Management Completes Approximately €425 Million of Senior Debt Refinancings for Its European Essential Real Estate Portfolio Year to Date

Slate Asset Management (“Slate”), a global alternative investment platform targeting real assets, today announced that it has completed approximately €425 million of senior debt refinancings for its European essential real estate portfolio since January 2024. The refinancings were completed across 160 properties in three countries via three individual transactions with institutional lenders Erste Group Bank AG, DZ HYP, and Natixis Pfandbriefbank AG.

Slate completed the refinancings at five- and seven-year terms at compelling rates, which were also more favorable than initial underwriting.

“Our ability to refinance almost €425 million of debt in the current financing environment demonstrates that essential real estate continues to be an attractive asset class for lenders,” said Sven Vollenbruch, Managing Director overseeing Slate’s European essential real estate portfolio. “These properties are secured by long-term, CPI-linked net leases with AAA covenant essential tenants that are critical to the supply chain, which translates to stable and attractive income streams that have historically been resilient and recession-proof. We are very proud of the portfolio of high-quality essential real estate we have built in Europe and grateful to our lenders for their continued trust and confidence in our strategy.”

Slate has been an active investor in the European real estate market and has transacted on around 1,000 commercial properties since 2016. Today, Slate’s European real estate strategy is focused on acquiring, owning, and operating cash yielding, essential real estate assets, such as grocery; pharma or other healthcare services assets; and affiliated warehouses and logistics assets. To date, Slate has executed over 700 lease agreements across 6 countries in Europe with some of the largest essential goods distributors in the region and currently operates a portfolio of over 500 essential real estate properties in Europe.

Mellum Capital, Goodwin Procter, and Schoenherr Attorneys advised Slate on these transactions.

About Slate Asset Management

Slate Asset Management is a global alternative investment platform. We focus on fundamentals with the objective of creating long-term value for our investors and partners. Slate’s platform focuses on four areas of real assets, including real estate equity, real estate credit, real estate securities, and infrastructure. We are supported by exceptional people and flexible capital, which enable us to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more, and follow Slate Asset Management on LinkedIn, X (Twitter), and Instagram.

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