Alantra has reached the first close of its new real estate debt fund, Alteralia Real Estate Debt, with commitments of more than €30 million.
The fund is backed by an investor base mainly consisting of institutional as well as private banking investors.
The vehicle will offer loans of up to €15 million on mainly commercial real estate assets such as offices, retail, hotels, logistics, student residences, as well as other alternative assets.
The loans will be made available for a range of purposes including the acquisition of real estate assets, the refinancing of existing debt, and funding for renovation or repositioning works.
Alantra’s private debt division currently manages around €350 million in three private debt vehicles and has completed 20 investments since 2015, investing more than €250 million.
Luis Felipe Castellanos, managing partner of Alantra Private Debt, said: “We have accomplished the first closing of the fund to carry out two investments that are at an advanced stage. Having achieved this first closing in the current market context confirms that our value proposition is well positioned both for our investors and for those companies seeking flexible long-term financing. We hope to make subsequent fundraisings until the vehicle’s target size, above €100 million, is reached by the end of this year.”