Bridge-to-equity financing for Arsenal Real Estate Fund US I

The IMI Corporate & Investment Banking Division has structured a new bridge-to-equity financing of USD 19.1M in favor of the Arsenale Real Estate Fund US I ("AREUS I").

AREUS I is a closed-end reserved real estate alternative investment fund that invests with a "Value Add" strategy on the redevelopment of Flex and LifeScience office spaces mainly located in California and Boston areas. The Fund is managed by Arsenale Real Estate SGR, an asset management company established in 2019.
Recently AREUS I has closed two transactions in California for a total investment of USD 48M.

The loan increases of the USD 26.3M facility granted last January to AREUS I, bringing the overall deal size to USD 45.4M. The financing, which takes form of revolving credit facility, is aimed at anticipating the payment of the capital commitments of AREUS I investors, ensuring higher operational flexibility and an optimization of the fund's cash flows.

The add-on follows the last closing of the Fund, which brought the total amount of capital commitments to approx. USD 160M, and the positive results achieved by AREUS I in the last months, including, in particular, the sale of a real estate asset in Waltham (Boston) for a total of USD 100M.