solidare with long-term funding for two projects
Malta, June 7, 2017: solidare real estate holding plc («solidare ») (MT0000580101 / A1JGT0 / XNH), a real estate company specializing in the growth market of micro-apartments, has completed a long-term refinancing of more than 30 million euros for two real estate projects in Düsseldorf. This covers the initially financed purchase price and the project costs of the two buildings purchased in 2016 with a total of around 8,000 sqm of rental space.
“With long-term financing at attractive terms, we have created an important prerequisite to drive two major projects from our portfolio, “says Zeki Yigit, CEO of solidare. “We already have an approved building application, the second we expect shortly,” Yigit says. Long-term lenders for solidare is a well-known German insurance company. ODDO SEYDLER BANK advised the company on this transaction.
NewMark Finanzkommunikation GmbH
Telefon: +49/ 69/ 94 41 80 64
Telefax: +49 / 69 / 94 41 80 – 19
solidare real estate holding plc. is a listed real estate company that specializes in the growth market of micro-apartments, predominantly in Germany. Micro-apartments are furnished residential units with a floor area of between 20 and 50 m², which are mainly rented by singles, students, commuters and the elderly. The principal shareholder and CEO Zeki Yigit has been involved in real estate development for more than 15 years. With around 300 employees, solidare covers the entire value-creation chain from real estate identification, the structuring of the acquisition and financing, the planning and execution of the construction or conversion activities, marketing, ongoing administration and facility management. The Group pursues a dedicated growth strategy that aims at consolidating the market segment and enhancing efficiency by exploiting the comprehensive nature of the internal service portfolio.
This release may contain forward-looking statements based on current assumptions and forecasts made by the management of solidare or its affiliated companies. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of solidare and its affiliated companies and the estimates given here. Neither solidare nor its affiliated companies assume any liability to update these forward- looking statements or to adapt them to future events or developments.