CBRE Investment Management increases Fund Revolving Credit Facility to €750m

CBRE Investment Management, on behalf of a fund sponsored by the firm, has increased the Revolving Credit Facility (RCF), from €450 million to €750 million ($491 million and $819 million), and added two new strategic banking partners, Crédit Agricole - Corporate Investment Bank (CACIB) and Deutsche Bank AG, Amsterdam Branch.

The fund’s increase to 750 million RCF remains sustainability linked and was initially provided by its long-standing strategic partners ABN AMRO and ING on a 50-50 basis. CBRE Investment Management (CBRE IM) has subsequently sought two additional banks with strong European presence and all-around expertise to become strategic partners for the Fund. Deutsche Bank and CACIB have recently entered into the RCF.

The RCF increase gives CBRE IM greater flexibility to control the fund’s debt profile at a low cost. The move will also enable greater speed of execution for new acquisitions and allow the fund to better manage the timing differences be