NIBC drives real estate deal for Gramercy

NIBC was the logical choice to support commercial real estate investor Gramercy Property Europe plc when it decided to buy five properties from an automotive group that is also a client of NIBC.

NIBC provided Gramercy with a term loan to finance the sale of the automotive real estate in Tilburg, Zwolle and Apeldoorn. The automotive group, one of the biggest in the Netherlands, will lease the properties back from Gramercy.
Gramercy is a leading European investor specialising in acquiring and leasing back industrial and office properties to high-quality tenants.

This transaction is the latest in a line of strategic acquisitions by Gramercy to grow its pan-European portfolio of single-tenant properties. NIBC financed another Dutch transaction for Gramercy at the end of 2015. This was followed by a series of further transactions, all requiring a reliable banking partner.

While there are limited alternative uses for automotive real estate, NIBC was comfortable financing this particular transaction because of our insight into the automotive market in general, and the automotive group in particular.

By selling these real estate assets, the automotive group has freed up liquidity for its core business and can concentrate on growing car sales. In addition to Volkswagen and Audi, it also sells Opel, Jaguar, Land Rover, Peugeot, Ford and Kia.