Edmond de Rothschild REIM nears €300m fundraising target for new debt strategy
Edmond de Rothschild Real Estate Investment Management (REIM) has raised an initial €250 million ($303 million) against a fundraising target of €300 million ($364 million) for its new European real estate debt strategy.
Capital was brought in from a variety of international investors for two debt vehicles, the Edmond de Rothschild European Real Estate Debt Fund and a dedicated fund on behalf of a German insurance group. The firm said the two debt vehicles have complementary risk/return profiles and will be able to co-invest in the same loan transactions, with target loan-to-value ratios of 70 percent to 80 percent on average, or even higher on specific transactions.
The strategy aims to provide the full range of senior, junior, mezzanine and subordinated debt loans to investors in major European markets.
“As an alternative lender, we can provide borrowers with flexible financing solutions from a single source in a timely and efficient manner,” said Ralf