"We are building a new portfolio of the fund and the quality of the purchased properties is reflected in the financing actually provided. The €30 million credit line confirms the successful strategy of our funds, which is currently continuing in our third fund - the confidence of the Raiffeisen Group clearly underlines this. Funding in this amount is only the first step, which is rather a foreshadowing of the fund's ambitions to manage assets totalling over €400 million. Due to ongoing acquisitions of investment projects, I believe in increasing this credit line at the turn of this year, "said Lubor Svoboda, co-founder of the Arete Group.
"The financing provided by the Raiffeisen banking group is a continuation of our cooperation, which began with the financing of our second sub-fund. The bank's trust brings our fund high stability and the security of sufficient capital resources. It enables the smooth completion of prepared acquisitions and the acceleration of the pace of forming the fund's portfolio. We can thus make good use of all the opportunities we currently have on the market. At the same time, we want to continue to maintain a safe ratio of bank loans to the value of assets (LTV). Especially at present, we clearly consider our lower debt strategy to be our competitive advantage,” adds Robert Ides, the second co-founder of the Arete Group.
The aim of the concluded contract is a sophisticated portfolio financing of all new transactions in the fund and ensuring greater flexibility in financing new developments. The entire transaction was legally supervised by law firm Kocian Solc Balastik on behalf of Arete.