Peach Property Group secures €203m loan extension

German residential real estate investor Peach Property Group has extended a €203 mln secured loan with a major German bank for an additional seven years. 

Peach Property Group

This financing, initially acquired by Peach Property Group in 2021 as part of a deal for 4,300 apartments, is now secured until 2032.
This extension, which is expected to be finalized by the end of the month, represents approximately 20% of Peach Property Group's total debt. 
The company states that this move is a key part of its ongoing balance sheet transformation, improving its debt maturity profile with favourable terms.
Gerald Klinck, CEO and CFO of Peach Property Group, said: “The extension of this significant individual loan impressively demonstrates our banks’ confidence in our long-term strategy and stability. It is a major milestone in our consistent balance sheet transformation and strengthens our financial base in the long term. On this solid foundation, we will continue to focus on the performance of the strategic portfolio, the targeted sale of the non-strategic portfolio, and the sustainable increase in shareholder value.”
Peach Property Group’s portfolio consists of high-yield properties, typically in German Tier II cities in the catchment area of metropolitan areas. In addition, the group develops selected properties in Switzerland for sale as condominiums, with the “Peninsula Wädenswil” development project being the latest such project.