Consulting firm Capcora, specialized on real assets, has arranged mezzanine bridge financing for the Essen-based real estate company FAKT AG. The funds are used to finance new projects.
The financing was structured by Capcora on the basis of the project Ruhr Tower, a 22-storey office tower in Essen, which has been completely revitalized in the past few years, almost fully let and sold to an institutional investor in the fourth quarter 2019.
"We are pleased about the successful cooperation with FAKT AG on this special project. The transaction was implemented within just a few weeks. Mezzanine capital is very diverse and can also be used in late project phases," said Christian von Olnhausen, managing director at Capcora and responsible for the real estate sector.
"As one of the larger real estate owners and developers in the Ruhr area, we always strive to capitalize our projects in the best possible way. We can use the released liquidity well to advance new projects, "said Norbert Boddenberg, CFO of FAKT AG.
About FAKT AG
The FAKT group of companies focuses on the revitalization of larger properties in the Ruhr area for its own portfolio and selective project development for sales - the core sectors are real estate, selected municipal infrastructure and capital market issues as well as projects for environmentally friendly energy generation and efficient use of scarce resources. In Germany and on the international market, the FAKT Group operates with a professional network of established cooperation partners. The group of companies currently bundles 30 subsidiaries and project companies under one roof.
Capcora is a consulting firm, specialized on real assets. Capcora procures equity, mezzanine and debt financing for energy and infrastructure projects, real estate, and medium-sized companies. The focus is especially on mezzanine financing for the recapitalization of tied-up liquidity in operating assets as well as for bridge financing of developments and construction measures in the area of renewable energies (photovoltaics, onshore wind) and real estate through alternative financing sources.
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