CR Investment Management sold 10 properties between June and September from the Sanchez portfolio for a total of €55m. The properties, located across Germany, offer 65,000 sqm of leasable space. They were sold to local developers as well as large international investors. The Sanchez portfolio originally consisted of 107 properties and was owned by a MSREF vehicle. The portfolio was financed with €1.1bn in loans, including a €472m securitized loan, an equivalent pari-passu senior loan and junior debt.
“The recent transactions further underline CR’s success in driving sales from the Sanchez portfolio,” said Jenniffer Solomon of CR Investment Management. We have demonstrated that with a proactive approach and use of our pan-German infrastructure – with five offices across Germany – investor interest can be stimulated across the board, with the effect being that CR is able to identify the right buyer for each asset.”
