Tyndaris Real Estate, a private debt fund established by former Deutsche Bank executives Heath Forusz and Clark Coffee, has issued a €64 million mezzanine loan secured against a portfolio of German offices.
The deal is the firm's third investment since inception. The exact recipient of the loan was not disclosed.
The firm has now deployed €90 million since last summer. Tyndaris Real Estate, part of alternative investment advisory business Tyndaris, specailises in providing flexible financing to Europe's commercial real estate sector. It primarily targets performing assets backed by strong sponsors, it said in a statement, and can provide financing from senior debt to mezzanine and preferred equity.
“After a period spent developing our infrastructure and raising capital, we are excited to be in the market and demonstrating proof of concept. Our investments reflect good risk return metrics for our investors and, importantly, are accretive to our borrowers.” said Coffee, co-head of the firm.
Forusz, also a co-head of the firm, added: “We continue to find attractive debt investments and have maintained a robust pipeline of opportunities despite increased liquidity in the sector. Given the size and diversity of the European market opportunity, we believe this will continue to be the case.”