Published: June 4, 2010
Real estate fund manager agrees US$240mn deal.
Aerium, a European real estate fund manager, has refinanced its Turkish retail portfolio, Bainbridge Capital Retail Properties, through a US$240mn debt facility with Turkey’s Akbank.
The capital will be used for extending and redeveloping Aerium’s Turkish shopping centres. The deal is the first portfolio refinancing in Turkey since the start of the credit crisis.
Aerium was advised by law firm Salans.