TwentyTwo Credit I, an investment vehicle targeting high yielding real estate credit opportunities in Europe, has concluded a first acquisition of a distressed commercial mortgage loan secured by a French office building
TwentyTwo Real Estate (“the Company”) announces the formation of TwentyTwo Credit I, a new investment vehicle organised and managed by the Company.
TwentyTwo Credit I will target investment opportunities in distressed debt, mezzanine and preferred equity secured by commercial properties in Europe.
TwentyTwo Credit I has completed a first investment consisting in the acquisition of a non performing first ranking mortgage loan with a face value of circa €40 million. The loan is secured by a circa 13,000m2 office building located in the Paris region.
Daniel Rigny, founder of TwentyTwo Real Estate said:
“The formation of TwentyTwo Credit I complements our array of investment strategies and exemplifies our flexible investment approach in order to secure real estate investments with attractive risk / return profiles.
In a subdued economic environment with deflationary pressures affecting rental levels, taking exposure to commercial real estate through discounted credit acquisitions provides robust capital protection while offering attractive upside potential through active workout.”