The international legal practice Osborne Clarke advised Retail Assets Investments (RAI) on its refinancing arranged by ABN AMRO Bank. RAI is jointly owned by AT Capital and Cairn Real Estate and owns convenience retail / supermarket properties across the Netherlands.
As part of the refinancing a capex and acquisition facility is introduced which enables RAI to acquire, reposition and redevelop some of its properties which contribute to an enhancement of the overall value of the portfolio. Advice also included the partial unwinding of existing hedging arrangements and implementing new interest rate hedging going forward.
The Osborne Clarke team was led by Axel van der Staak (Banking & Finance) and further consisted of Peter van der Horst (Banking & Finance) and Cars-Jan van Gool (Civil-law notary).
"We are proud to have again advised Cairn Real Estate as well as AT Capital. Cairn Real Estate is a long standing client of our firm and it is always a pleasure to work with the team who are pragmatic yet keen to get the right details right. As the cooperation with the seasoned ABN AMRO team was constructive and efficient, the deal closed well in time which is not a given in these hectic end of year times", says Osborne Clarke's Axel van der Staak.
"It has been a very smooth process led by Osborne Clarke’s team, where we are pleased with the successful refinancing of our portfolio. This refinancing will give us a good solid basis going forward. Together with the acquisition facility we can increase the value of our portfolio.", say Eefje Eijkemans (AT Capital) and Maurits van der Werff (Cairn Real Estate).
About Osborne Clarke
Osborne Clarke is an international legal practice with over 1,800 employees at 26 locations worldwide, including over 40 lawyers in Amsterdam. Under the slogan "Helping you succeed in tomorrow's world", with extensive industry knowledge through networking and outstanding expertise in business transformation, Osborne Clarke advises and represents companies and entrepreneurs in all practical business law challenges.