Inovalis REIT has secured the Trio Property, an office building in Neu-Isenburg, near Frankfurt, Germany. The €50m asset is composed of three office buildings. At the same time, the company has revealed that it refinanced two of its existing investments in France: the Metropolitan in downtown Paris, and the Courbevoie in Courbevoie. With the Metropolitan’s valuation having risen from €50m to €63m, Inovalis was able to generate €8.5m in cash by refinancing the property. The new loan is in the amount of €43m. “With the continued increase in values in Europe, the REIT has managed to generate funds through refinancing, allowing for cheap capital to deploy on new acquisitions,” said Khalil Hankach, Chief investment Officer of Inovalis. “Management relationships in the banking sector both in France and Germany has proven beneficial once more, as this refinancing is the latest of many done throughout the past six years.”
