Blackstone Real Estate Debt Strategies (BREDS) has provided a €320 million loan to MARK Capital Management to refinance a mixed-use retail and office portfolio in Oslo, marking Blackstone’s debut real estate debt financing in Norway.
The five-year loan will refinance the 12 properties in Oslo, acquired in 2016 by a MARK fund in a joint venture with an undisclosed Middle Eastern institutional investor. The properties are managed by Promenaden, a subsidiary of the MARK-advised fund.
Among the properties are the Steen & Strøm department store and the Eger Quarter shopping gallery. Most of the portfolio is situated on Nedre Slottsgate.
Source: realassets.ipe.com on the 23rd of April