UAE-based Integrated Alternative Finance (IAF), a subsidiary of Abu Dhabi Financial Group (ADFG), announced that it has arranged a AED 35 million loan facility for a European-focused investment fund for the acquisition of two plots of land in Eastern Europe.
The facility for Injaz Eastern European Property Development Company Limited (IEEPDC) was arranged by IAF and provided by non-traditional funding sources.
The transaction is notable for providing liquidity to the investment fund’s legacy portfolio, assisting in acquiring control of real estate properties located in Bulgaria and Montenegro. IEEPDC is in advanced discussions with local development partners to develop the properties into hospitality assets.
Fawad Tariq Khan, Director at Integrated Alternative Finance, said: “The unique funding arrangement is testament to IAF’s ability to structure complex liquidity solutions for clients across multiple jurisdictions. Our ability to arrange debt solutions through our proprietary network provides a platform for clients seeking senior bank debt, mezzanine and a combination of hybrid instruments.”
A DFSA regulated entity with offices in the Dubai International Financial Centre, IAF is a wholly owned subsidiary of Abu Dhabi Financial Group and provides alternative financing and structuring solutions to asset owners and developers for acquisition, restructuring, refinancing or development projects, mainly within the UAE and London markets.
IAF has arranged finance totaling approximately AED 1 billion in 2014 including a AED 786 million bridging facility for the acquisition of 1 Palace Street, London, earlier this year. The company expects to complete transactions worth AED 3 billion by year-end.