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ING Mandated Lead Arranger of €30 million loan to Meyer Bergman in Milan

ING has acted as sole Mandated Lead Arranger of a €30 million 4-year term loan to Meyer Bergman, for the acquisition of a strategically located retail platform in Milan's mass market brand shopping street, Corso Buenos Aires. Corso Buenos Aires runs from the historic centre of Milan to Piazzale Loreto square and is one of the longest shopping streets in Milan. It counts over 350 shops and outlets of which the acquired nr. 33-37 is one of the largest stores in the street. The property is currently let by OVS/Upim, a department store chain of Italian origin specialising in midmarket clothes, cosmetics, perfumes and home decoration.
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Savills Investment Management
Meyer Bergman
ING
Milan


The property consists of the ground and first floors of three adjoining buildings and comprises a total of 3,750 sq.m. of space. Other brands at the Corso Buenos Aires include H&M, Zara, Nike, Desigual, Lacoste and Benetton. The acquisition was completed by Meyer Bergman on behalf of Meyer Bergman European Retail Partners III (MBERP III), a fund heading towards its final close in the coming months [we reported].

ING provided also payment and cash management services and hedging products in connection to the term loan. ING was advised by Jones Day as external legal counsel and Savills on the property valuation side, with Hilex acting as lawyers on the borrower's side.
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