NorthStar Realty Finance Corp secured €530m in financing from Aareal Bank AG for the acquisition of a €1.1bn pan-European office portfolio. The office portfolio, totaling around 186,000 sqm of leasable space, is comprised of 11 office buildings in seven cities around Europe, including Hamburg, London, Paris, Brussels, Amsterdam, Rotterdam, Gothenburg and Milan. All the buildings have a well-diversified mix of leading market tenants.
NorthStar Realty Finance is organized as a Real Estate Investment Trust (REIT), managed by an affiliate of NorthStar Asset Management Group Inc. Aareal Bank acted as the arranger, agent and sole underwriter for the seven-year senior facility.
