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ING supports Savills IM with €72mln loan for an high street fund

Posted: 2 March 2017

ING Bank has closed a €72 mln loan with Boccaccio, an Italian real estate closed end fund managed by Savills Investment Management SGR.

ING acted as sole mandated lead arranger and sole lender and facility agent.

The facility is a 7-yr mortgage loan collateralized by a portfolio of four prime high street retail units of which three are located in Milan (Piazza San Babila, Corso Venezia, Via Verri) and one is situated in Florence (Via Panzani). The financing was agreed with a moderate LTV of 30% and a bullet repayment profile.